Carl Icahn Slams BlackRock For Bond Market Volatility

Billionaire activist investor Carl Icahn lambasted BlackRock on Wednesday for what he said was creating an “extremely dangerous situation” by encouraging debt issuance. Sharing the stage with Larry Fink, chief executive of BlackRock, at the CNBC Institutional Investor Delivering Alpha Conference in New York, Icahn expressed his concerns about the amount of money invested in high-yield ETFs, which he termed “overpriced.”

Increasing price for relatively risky debt

Carl Icahn termed BlackRock an “extremely dangerous company” due to the prevalence of its exchange-traded fund products, which Icahn deems illiquid.  Making reference to BlackRock’s ETF business, the activist investor said: “They...