Hedge fund titan and long-time Donald Trump supporter Carl Icahn is enthusiastic about the election of Trump as the US president.
In an interview with CNBC’s Scott Wapner, Icahn congratulated the Republican president-elect and said his policies would be a boost to the US economy.
“I think this is going to be a major change,” said Icahn on CNBC.
Icahn also said he would not consider becoming Trump’s Treasury Secretary, which had been previously suggested.
“I don’t think I’d be the right guy, I’m not establushment, I’ve never worked for anyone in my life,” said Icahn
Icahn emphasised that the vote for Trump was a natural progression of change against an economy that is not working.
“This was going against the establishment,” said Icahn. “This happens at companies if you go one eay too long, you need change. Change is very important.”
He said that this was a warning to the establishment that this is going to change.
In additional, Icahn said that during the overnight market turmoil which saw Dow futures fall more than 800 points, he loaded up on more stocks.
“I saw that market going down, the insanity,” said the hedge fund titan. “So I left the Trump party and went home and bought a lot of stock in the overnight market.
Trump will roll back cumbersome regulation and support corporate tax reform which will help the economy and market according to Icahn. The investor also said he does not expect Trump to repeal regulations of financial industries such as the Dodd Frank Act because the market cannot be the “Wild West” and said that “Wall Street is taking advantage of the rules too much.”
Low interest rates also had to go, said Icahn, since the economy is running on a easy money bubble that is not truly strengthening the economy and middle class.
Icahn has been a supporter of Trump for over a year. In the interview, Icahn said he has not spoken to Trump since the results became clear.