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Carl Icahn Left Trump's Victory Party Early To Invest $1 Billion

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Carl Icahn Left Trump's Victory Party Early To Invest $1 Billion

Carl Icahn, the billionaire investor and Donald Trump backer chose to skip Trump's victory party and went home to trade index futures.

Speaking to Bloomberg TV, Icahn confirmed that he lowered his hedge exposure in the stock market after Trump emerged victorious. While he isn't going to acknowledge that all of the economic woes will disappear overnight on the basis of Trump winning the election, it is a "major step in the right direction."

Icahn continued that he felt it was "absurd" that the S&P 500 index crashed 100 points after Trump's victory was all but certain. So, Icahn went home and put his money where his mouth was and placed a $1 billion bet on U.S. equities.

How To Make America Great Again

Icahn continued in his interview that the U.S. economy has been plagued as of late by non-stop regulation after regulation, and then investors start wondering why the economy isn't growing at the pace it should.

"One of the major questions and problems is why is productivity not growing," Icahn said. "When productivity doesn't grow you can't compete. And why isn't it growing? Because businesses are afraid to spend money. It's simple — I get into these businesses, I own 'em and a guy like me likes to take shots and I'm afraid to put money in."

"Today I'm not afraid as much anymore," he continued.

Image Credit: By Marco Verch (Trump supporters in front of Trump Tower) [CC BY 2.0], via Wikimedia Commons

 

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