2016 Crash | Bond Market Collapse | Carl Icahn

The increasing warnings against investing in the reckless Wall Street bull market have just reached a tipping point — ultimate Wall Street insider and New York City financier Carl Icahn has just leveled a blast at the stock and bond market cheerleaders who still believe the current record-setting market valuations are not a problem.

“I think the public is walking into a trap again as they did in 2007,” Icahn told CNBC’s “Fast Money Halftime Report.” “I think it’s almost the duty of well-respected investors, like myself I hope, to warn people, to tell people, that really you are making errors.”

Icahn went on to tell his CNBC hosts that “he was very concerned” about the “overheated” stock and bond markets and that small investors from the general public were “walking into a trap”. Icahn cautioned the public away from the high-yield bond market especially, claiming that “it’s almost the duty of well-respected investors like himself” to warn people- then Icahn followed up with comparisons of the current investment climate to the heady pre-crash days of 2007.