"The Worst is Yet to Come" in the Face of Inflation, According to Carl Icahn

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"The Worst is Yet to Come" in the Face of Inflation, According to Carl Icahn
Credit: © Reuters.

Investing.com - Famed Wall Street investor Carl Icahn yesterday issued a chilling warning to investors, saying "the worst is yet to come."

During an appearance at MarketWatch's Best New Ideas in Money Festival, Icahn, 86, posted gloomy forecasts for the economy, while advising some opportunities for investors.

"I think a lot of things are cheap, and they're going to stay cheap," he said, going on to say that oil refining and fertilizer companies are ones to watch. In particular, he cited CVR Energy stock.
The investor explained that inflation was playing an important role in the market's decline.

"Inflation is a terrible thing," he said, noting that historians believe it was rising prices that led to the fall of the Roman Empire.

"You can't cure it," he said.

Finally, it should be noted that Carl Icahn pointed to debt and money printing as the main culprits: "We printed too much money, and just thought the party would never end. And the party is over," he said.

 

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  • Nirdesh Hooda @Nirdesh Hooda
    indian markets are independent now and favourite market for investors
    Like 5
    • Uttam Singh @Uttam Singh
      right 👍
      Like 0
    • Avinash Kulkarni @Avinash Kulkarni
      Wrong
      Like 1
    • Vicky Forfun @Vicky Forfun
      Which world do you live in? Indian market is completely dependent on external factors. Have you seen the inflation figures?
      Like 1
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  • Nirdesh Hooda @Nirdesh Hooda
    indian markets are independent now and favourite market for investors
    Like 1
  • Rahul Soni @Rahul Soni
    Good Report.But Is this View on the Market applicable on Indian Markets too or not.
    Like 0
    • Vicky Forfun @Vicky Forfun
      Yep and there is going to be a crash before 2024 elections big time for indian market.
      Like 2
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