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Brother vs. Brother: The Najarians Debate Carl Icahn's Troubled Trades

"I think we're talking about two real losers in terms of the stocks here."

Even some of the world's best investors make bad bets. On the "Halftime Report" today, traders Jon and Pete Najarian went head-to-head over some of Carl Icahn's commodity bets that are feeling the pressure. The two debated what name the billionaire investor should drop.

Jon Najarian thinks Icahn should dump Cheniere due to lower earnings and falling natural gas prices.

On the other side, Pete Najarian believes Freeport-McMoRan is the trade to get out of given the company's ballooning debt.

Steve Weiss sides with Pete. He draws a comparison between Chesapeake Energy and Freeport McMoRan, noting that the company will have to sell assets and will likely never catch up to its debt load.

Jim Lebenthal thinks both stocks are losers at these levels, but of the two, Cheniere looks better. The company is on the leading front of exporting natural gas to Asia--where it is in demand--which makes it slightly more attractive.

Trader disclosure: On December 29, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Halftime Report" were owned by the "Halftime Report" traders:

Pete Najarian: Long AAPL, BAC, BMY,BP, DIS, DISCA, FOXA, GE, KO, MRK, PEP, PFE. Long calls A, ABX, BAC, COP,DAL, DDD, EMR, EXAS, HAIN, HUN, LC, LULU, MOS, MSFT, NRF, NSAM, PNR, SCSS, UAL,VZ, WLL, WYNN. Long puts FCX, MRO, WFT

Jon Najarian: Long KMI, PPG. Long calls ALB, AMLP,AMZN, BAX, CA, COP, FIT, INTC, KNDI, LC, MBLY, MCK, MDLZ, MSFT, NFLX, NRF,NVDA, RSX, SCSS, TA, TGT, XLNX, XOP, WLL

Steve Weiss: Long AAL, C, DLTR. Short HYG

Jim Lebenthal: Long AAPL, BA, C, CSCO, DCO, EEQ, GAIA, GM, INTC, JCP, MPC, OA, ORBC, PFE, QCOM,QRVO, SPLS, TIF, TRN, WGO