The "Halftime Report" traders tackle Carl Icahn's playbook.
Pete Najarian is most interested in Freeport-McMoRan. "Carl Icahn is talking 3-4 years out and I think that's something that everybody has to understand. It's a longer-term play. If it goes lower, I bet he goes in and buys more," he adds.
Josh Brown is also concerned about the high yield bond market. "We haven't really had defaults spike in junk market bonds but we are now looking at four straight months of declines and that's definitely something that should be on everyone's radar," said Brown.