Carl Icahn on Trump's victory, and why he bought stocks during the overnight sell-off

Billionaire hedge fund manager Carl Icahn shared his views on Donald Trump's surprise presidential victory and why he bought stocks on the news.

"I personally don't believe Donald Trump is bad for the market," said Icahn, who used the overnight volatility to get long in the futures market.

In overnight trading Tuesday, the futures market pointed to a drop of about 800 points in the Dow, but those losses quickly evaporated Wednesday, with stocks up about 270 points as of 3 p.m. EST.

In this extensive interview with CNBC's Scott Wapner, the money manager speaks about market regulation, taxes, the role of government in business and where the stock market might be headed.

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