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Billionaire hedge fund manager Peltz on activism, the election and rate hikes

Billionaire hedge fund manager Nelson Peltz shared his market views in an exclusive interview with CNBC's Scott Wapner on Wednesday.

Peltz is chief executive officer of Trian Fund Management. The firm manages more than $10 billion, according to its website.

On the market environment, "Things are not as nearly as bad [as people think] ... there is huge opportunity on the cost side [in corporations]," he said.

On activists' bad name: "Activist has become somewhat of a dirty word ... [funds will] behave like highly engaged shareholders as opposed to what the cartoonish meaning of the word activist means," Peltz said.

He also discusses:

To watch the broadcast interview in its entirety, you must be a CNBC PRO subscriber.