Icahn Warns of Correction

Billionaire hedge fund guru Carl Icahn says he’s concerned that a “major correction” for the stock market may be coming.

“You’ve got to be myopic if you’re not at least concerned that there might be a major correction,” Icahn recently told the Financial Times. “[Ben] Bernanke has done a brilliant job but he can’t hold interest rates down for ever, and in any event he stops in June and we don’t know what happens after that.”

Icahn, who recently told outside investors that his hedge fund no longer needed their money, said he’s building up “a lot of cash, quite a number of billions”. But, he’s concerned about the stock market, FT reports. “When everybody is getting bullish and everybody is making loads of money it worries me because I’ve seen it happen many times before,” he said.