NEW YORK (Nov 17): Billionaire activist investor Carl Icahn said the strong rally in US stocks since Donald Trump captured the White House last week might be overdone, but that investors can expect the president-elect to be a consensus builder who can help fix Washington and improve the economy.

"When it runs up like this, I scale off a little bit," Icahn said on Wednesday at the Reuters Global Investment Outlook Summit, referring to the US stock market. "But that doesn’t mean that I am that negative or positive."

Icahn was once known as a corporate raider, in particular for his hostile takeover of TWA in 1985, but in recent years has become a major shareholder activist. Forbes magazine on Wednesday estimated his net worth at US$16.2 billion.

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