Skip to main content

Uncle Carl Bought The Trump Dip. And Then Some

Who among us hasn't left a friend's party at midnight to throw $1 billion at a plunging market?
  • Author:
  • Updated:

For those who went to bed in the wee hours of election night, when stock futures were still hurtling downward on a shock Trump victory, it might have come as a mild surprise to see the Dow opening calmly Wednesday morning and rising steadily throughout the day. Someone must have listened to Larry Kudlow and bought the dip.


It’s hard to imagine a more enthusiastic dip-buyer than Carl Icahn. In an interview with Bloomberg, Uncle Carl divulged that he made an Irish exit from Trump’s victory party in order to scoop up profits. “I was at the Trump party, so to speak, at about 11:30 quarter to twelve. When I saw that market fall apart it made no damn sense. I actually went home and I did a little – I made a purchase.”

That little purchase turned out to be a $1 billion bet on U.S. equities. And a well-timed one at that. The Dow rose more than 250 points by mid-afternoon, or 1.4 percent. That’s a sharp turnaround from the 800-point plunge Dow futures took overnight.

It’s a bit of head-scratcher that after months of warning of Brexit-style collapse after a Trump win, Wall Street has whistled a happy tune Wednesday. Icahn evidently isn’t the only one who thinks Trump – and especially his tax plans – will make stocks great again, too. “I do not think that Donald is going to be bad at all for the economy,” he said.

If you can buy into the Donald, you can buy into any old dip.



Carl Icahn Regrets Stinginess Of His $1 Billion Post-Election Stock Market Bet

Next time the octogenarian places a midnight trade he'll put some real money on it.


You’re Not Crazy: The Stock Market Is Going Schizoid

Under the placid surface, markets are ripping in opposite directions.


Looks Like Uncle Carl Is Losing Faith The Trump Train

One of the weirdest subplots of this dumb election looks to be coming to its end.

Bill ackman beach

Bill Ackman: Extremely Bullish On Trump And “Long America” (Excepting Valeant)

Ackman's come a long way from mocking the size of Trump‘s bank account.


Carl Icahn Won’t Need Buybacks During The Trump Economic Miracle

Uncle Carl's got some interesting views on a Trump presidency.

Image courtesy World Economic Forum

Larry Summers And Goldman: Uhh You Guys Know Who We Just Elected, Right?

A sobering reality-check following last week's market binge.


Let’s Not Forget To Publicly Congratulate Robert Mercer On His “Private” Trump Victory

The Renaissance Technologies co-CEO is more of the quiet type, so let's give him a well-earned shout-out.

Uncle Carl Is Now All Aboard The Trump Train

They're making the friendship bracelets now.