Billionaire investor Carl Icahn is a big fan of Donald Trump and his policies. Indeed Icahn thinks Trump will be a historic figure. Back in October, Icahn talked about Trump’s unique ability to face down special interests, likening the not-yet-elected Trump to legendary trust-buster Teddy Roosevelt. Icahn has since been named a special adviser to the president on regulatory overhaul.
The financial markets have reacted — like Icahn — to Trump’s presidency with exuberance so far, with the Dow reaching an all-time high. But Icahn isn’t that exuberant, it turns out. His investment portfolio is more short than long, CNNMoney reports. The position seems to indicate that Icahn believes there is a little irrationality to the current exuberance (to paraphrase Alan Greenspan). Keith Cozza, the CEO of Icahn Enterprises, told investors on an investor conference call last week that the “market does seem to be priced for perfection,” saying that “we continue to have a fairly bearish view.” At least until those regulations are kicked to the curb.