In his brief interview with CNBC (see video below), Carl Icahn confirmed what we have been saying on this blog for quite some time. First, everyone loves this market (even his barber) a little too much and that in itself should raise some red flags. Second, most earnings you see today have been artificially driven by cheap credit infused by the FED. That’s exactly what we have been saying here for a long time. Today’s earnings are a mass delusion at best. As we have said before, if you take credit driven earnings out, the true market P/E should be around 60-80, making this market not only expensive, but “Are You F#&$ing Kidding Me?” expensive. You will see the P/E ratio surge (as they did in 2008) once the markets crater and the US Economy falls into a severe recession later this year.
Finally, Mr. Icahn insinuated that there will be a major correction over the next 3 years, but he doesn’t know exactly when. While he doesn’t, we certainly do. And not only to the year or to the month, but to the day. That’s right, our mathematical and timing work shows us exactly when (to the day) the bull market will top out and the subsequent bear market composition (bear market of 2014-2017). If you would like to gain access to such information, please Click Here.
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