Billionaire Carl Icahn told CNBC on Tuesday there are too many exotic, leveraged products for investors to trade and one day these funds are going to blow up the market.
“The market is a casino on steroids” with these derivatives and they are the “fault lines” that will lead to an earthquake on Wall Street, Icahn said. “The market itself is way over leveraged.”
“The market has become a much more dangerous place,” he said, adding he believes the current volatility is a precursor to “things to come.”
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