Carl Icahn, “Donald Trump doing things that lead to a better economy.”

Carl Icahn, “Donald Trump doing things that lead to a better economy.”

Carl Icahn, “Donald Trump doing things that lead to a better economy.”

$AZO, $AMZN

Investment guru Carl Icahn said Thursday, that US President Elect Donald Trump’s accomplishments before he has even officially entered the Oval Office point to a “much, much better economy.”

So promising, in fact, that the billionaire activist investor admits he should have placed an even bigger bet on stocks in after Donald Trump’s victory over Democrat rival Hillary Clinton.

“All the things Donald’s doing really point to a much, much better economy,” Mr. Icahn said in a TV interview.

“Sometimes you get these situations where it’s almost a no-brainer where the odds are in your favor tremendously. There’s absolutely no reason that everybody was saying ‘if Trump wins everything is going to fall apart’ which is nonsense,” he said.

Carl Icahn supported and advised Donald Trump during the campaign

Thursday he explained that the President Elect had consistently said he would slash corporate taxes and roll back regulations

But after Donald Trump’s electoral college win, the DJIA futures initially dove more than 800 points. The brief post-election plunge in the DJIA was “completely, totally insane,” Mr. Icahn said, adding that it made sense to “Play the Market” then.

He then left the Donald Trump’s victory party early to take advantage of the dip and bet about $1-B on equities. Since then, the major indexes have continued to set record highs on a daily basis.

“I did buy a fair amount, I guess in perspective, but not nearly what I should have,” Mr. Icahn said.

In a wide-ranging interview Carl Icahn said:

  1. Oklahoma Attorney General Scott Pruitt will “do the job” as Environmental Protection Agency (EPA) chief.
  2. That Donald Trump should eliminate “crazy regulations,” and lower the depreciation schedule so investment in the US “make sense.”
  3. As of 30 September, 47% of his portfolio is weighted in the energy sector.
  4.  He supports Doanld Trump’s Treasury Secretary pick, Steve Mnuchin, and strongly backed him, as well as Wilbur Ross, Trump’s pick for Commerce Cecretary.
  5. He did not comment on whether he has a choice of candidates for Secretary of State.
  6. He said the days of the automobile distributors … are going to come to an end of getting 27X earnings for an AutoZone (NYSE:AZO) because you have a couple things happening … a lot of things they sell are imported and you have Amazon coming (NASDAQ:AMZN) in the market.

Trumpeting for Trump

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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