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CNBC EXCLUSIVE: CNBC TRANSCRIPT: ICAHN ENTERPRISES CHAIRMAN CARL ICAHN SPEAKS WITH CNBC’s SCOTT WAPNER TODAY

WHEN: Today, Thursday, November 30, 2017

WHERE: CNBC's "Fast Money Halftime Report"

Following is the unofficial transcript of a CNBC EXCLUSIVE interview with Icahn Enterprises Chairman Carl Icahn and CNBC's Scott Wapner on CNBC's "Fast Money Halftime Report" (M-F 12PM-1PM) today, Thursday, November 30th. Following are links to video from the interview on CNBC.com: https://www.cnbc.com/video/2017/11/30/billionaire-investor-carl-icahn-poison-pill-is-a-complete-travesty.html, https://www.cnbc.com/video/2017/11/30/carl-icahn-on-bitcoin-i-just-dont-get-it.html, & https://www.cnbc.com/video/2017/11/30/carl-icahn-markets-are-in-a-euphoric-state.html.

All references must be sourced to CNBC.

SCOTT WAPNER: WE DO WANT TO BEGIN WITH THE MARKETS AND THE CNBC EXCLUSIVE INTERVIEW THIS HOUR, CARL ICAHN JOINING US LIVE ON THE PHONE FOR HIS FIRST INTERVIEW IN TEN MONTHS SINCE PRESIDENT TRUMPS' INAUGURATION. SINCE THEN STOCKS HAVE ROARED TO ALL-TIME RECORD HIGHS, INCLUDING TODAY'S 24,000 MILESTONE. MR. ICAHN ALSO MAKING NEWS TODAY, WRITING A LETTER TO THE BOARD OF SANDRIDGE ENERGY TO ONCE AGAIN CRITICIZE ITS PLANNED DEAL WITH BONANZA CREEK AND ITS ADOPTION OF A POISON PILL, WHICH HE CALLS A TRAVESTY. CARL, WELCOME BACK. IT'S GOOD TO TALK TO YOU AGAIN.

CARL ICAHN: YEAH, GOOD TO TALK TO YOU, SCOTT.

WAPNER: WE'LL GET TO THIS INCREDIBLE STOCK MARKET IN A MOMENT, BUT LET'S BEGIN WITH SANDRIDGE, THAT'S YOUR NEWS OF THE DAY AND THIS LETTER THAT YOU'VE WRITTEN TO NOT ONLY CRITICIZE THIS PLANNED ACQUISITION BUT A POISON PILL THAT YOU REFER TO AS A COMPLETE TRAVESTY AND REPRESENTING A NEW LOW IN CORPORATE GOVERNANCE. WHY SO?

ICAHN: YEAH, I THINK THAT THE COMPANY, I BELIEVE, TO ENTRENCH ITSELF – THE BOARD TO ENTRENCH ITSELF – WENT OUT AND ISSUED STOCK – AND ISSUED STOCK FOR A COMPANY CALLED BONANZA. AND THEY'RE PAYING BONANZA A 75% PREMIUM TO THE $421 MILLION VALUATION ESTABLISHED BY BONANZA CREDITORS. AND THIS WAS WRITTEN IN A FIR TREE ARTICLE, FIR TREE PARTNERS WHO I DON'T KNOW, NEVER MET, ALSO OWN A FAIR PART OF THIS COMPANY AND THEY ARE PRETTY ENRAGED BY IT JUDGING BY THE ARTICLE THEY WRONG. BUT HERE'S THE REALLY IMPORTANT THING. I MEAN, THE THING THAT'S SO REPREHENSIBLE. IT'S NOT SO MUCH THAT YOU KNOW, THEY WENT OUT AND OVERPAID FOR THIS OR WANT TO OVERPAY, AND IT'S NOT EVEN THAT THIS GUY, BENNETT, WHO RUNS THE COMPANY -- NOW GET THIS, BENNETT STARTED THE COMPANY. HE WAS IN THE COMPANY OF SANDRIDGE IN 2011 AS CFO, THEN IN 2013 THEY PUSHED THE CEO OUT, IT WAS A PROXY FIGHT FOR A LOT OF THINGS THAT I DON'T WANT TO GO INTO OR CAN'T GO INTO AND – THEY PUT BENNETT IN WHO WAS THEN THE CFO. BENNETT PRESIDED OVER THE DESTRUCTION AND THE LOSS OF $5 BILLION. SO THINK ABOUT THIS. THE COMPANY SHARES – THE SHAREHOLDERS GOT NOTHING, ZERO. AND DURING THIS PERIOD, BENNETT HAS TAKEN $50 MILLION FOR HIMSELF. AND ALSO PRESIDED IN GIVING THE – YOU ASSUME WAS HIS BUDDY, THE CEO THAT LEFT BECAUSE THEY PUSHED HIM OUT, $90 MILLION. I MEAN SO THIS – THIS IS A BLATANT -- IT MAKES A BANANA REPUBLIC LOOK GOOD. YOU KNOW, IT'S LIKE A TOTALITARIAN SAY THIS IS WHAT I'VE BEEN RAILING ABOUT IN CORPORATE GOVERNANCE. AND YOU KNOW I THINK THAT THIS MIGHT BE A REALLY VERY IMPORTANT POINT BECAUSE WE'RE GOING TO BE GOING TO DELAWARE TO FIGHT THIS TYPE OF PILL, BECAUSE THEY PUT IN A PILL THAT, YOU KNOW, TO STOP GUYS LIKE ME, YOU KNOW. I BOUGHT A FAIR AMOUNT OF STOCK -- BUT I BOUGHT THE STOCK A LITTLE BIT – I HAD A LITTLE BIT OF STOCK IN IT, YOU KNOW, WHEN IT WAS UP AROUND 19 OR 20. AND I HAD A LITTLE BIT AND I THOUGHT, OKAY, WHAT THE HECK, I KNOW THE COMPANY, I KNOW THAT AREA PRETTY WELL, WE HAD DONE BUSINESS WITH SANDRIDGE A LONG TIME AGO AND INCIDENTALLY SOLD ONE COMPANY TO THEM, AND I HAD NO INTENTION OF REALLY GOING AFTER IT BUT THEY WENT OUT WITH THIS CRAZY DEAL, YOU KNOW, AND THE SHAREHOLDERS REALLY DUMPED STOCK ON THE MARKET, A TREMENDOUS AMOUNT OF STOCK ON THE MARKET. SO ABOUT 20% LOWER I WAS ABLE TO BUY UP TO 14%. WHEN THEY COME OUT WITH A PILL, BUT THE PILL IS THE MOST OUTRAGEOUS THING I'VE EVER SEEN. SO I'M NOT EVEN ARGUING ABOUT BENNETT TAKING ALL THIS MONEY OUT FOR HIMSELF AND I BELIEVE SCREWING THE SHAREHOLDERS, I'M NOT ARGUING SO MUCH ABOUT OVERPAYING FOR THIS, BUT HERE'S THE UNBELIEVABLE THING, THEY'RE SAYING THAT YOU AS A SHAREHOLDER DO NOT HAVE THE RIGHT TO TALK AGAINST THE DEAL. IN OTHER WORDS, I CAN'T GO OUT, AND EVEN IN A TOTALITARIAN STATE YOU HAVE A RIGHT TO GO AGAINST THE DICTATOR. OF COURSE YOU MIGHT GET SHOT, BUT YOU MIGHT NOT. YOU MIGHT GET SHOT, YOU MIGHT NOT. IN THIS CASE, YOU DEFINITELY WILL LOSE ALL YOUR MONEY IF YOU HAVE -- IF YOU UTTER ONE WORD AGAINST THE COMPANY. IF YOU GO TO OTHER SHAREHOLDERS AND SAY, HEY, VOTE AGAINST IT. SO THEY'RE GOING TO HAVE A MEETING. THEY'RE GOING TO HAVE A MEETING AND THEY'RE SAYING, BUT IF ANY OF YOU -- YOU CAN VOTE AGAINST IT, BUT IF ANY OF YOU DARE TO SAY WE'RE WRONG, AND WE'RE GOING TO TELL EVERYBODY WE'RE RIGHT, BUT IF YOU DARE TO SAY WE'RE WRONG, ICAHN, OR ANYBODY WITH MORE THAN 10% OF THE STOCK -- WELL, NOT MORE, SO IF I TALKED – IF SOMEBODY HAD 4% OF THE STOCK, ANOTHER GUY HAS 3%, ANOTHER GUY'S GOT 3%, ACCORDING TO THIS PILL IT SEEMS LIKE YOU LOSE ALL YOUR MONEY. SO –

WAPNER: BECAUSE THEY ADD IT ALL TOGETHER FOR WHAT THE 10% OF WHAT THE PILL IS, CORRECT?

ICAHN: YEAH, AND THEY MADE IT SO AMBIGUOUS THAT YOU DON'T KNOW. SO WHAT THEY DO IS HIRE LAWYERS, THEY PAY THEM A FORTUNE TO COME UP WITH THIS STUFF, BECAUSE THEY WANNA – THEY REALLY WANT IN MY OPINION, THEY WANT TO ENTRENCH THEMSELVES. THEY GOT THE HONEY POT. AND I THINK BENNETT'S JUST TRYING TO DO IT AGAIN. HE'S GOT $50 MILLION OUT, $90 MILLION OUT FOR HIS BUDDY AND WHY NOT TRY TO DO IT AGAIN, YOU KNOW, GET THE MONEY OUT, PULL ALL THE MONEY OUT AND TAKE THE SHOT, GO TO THE LONG BALL.

WAPNER: THERE ARE A COUPLE OF IMPORTANT THINGS THAT I HEARD YOU SAY, AND I WAS GOING TO ASK YOU ANYWAY. IT SOUNDS TO ME LIKE -- ARE YOU GOING TO SUE IN DELAWARE COURT?

ICAHN: YEAH, I THINK WE'VE ALREADY -- YOU READ THE LETTER WE WROTE TO THE COMPANY. WE'VE ASKED THEM -- WE'VE ASKED THE COMPANY TO CLARIFY THAT WHAT I SAID ISN'T TRUE, BECAUSE IT'S AMBIGUOUS. AND SAY, HEY, WE WANT TO KNOW THAT WE'VE GOT THE RIGHT TO GO, AND WE WILL VERY STRONGLY ELECTIONEER AGAINST THIS DEAL. AND WE WANT TO KNOW THAT WE HAVE THE RIGHT TO CALL THIS SPECIAL MEETING. THE COMPANY GIVES YOU THE RIGHT TO HAVE A SPECIAL MEETING, SO WE CAN CALL A SPECIAL MEETING, THAT'S FINE, BUT YOU CAN'T TALK TO ANYBODY AFTER THE SPECIAL MEETING ABOUT WHAT YOU WANT TO DO WHICH IS GET RID OF THE BOARD. YOU CAN'T DO THAT, I MEAN, ACCORDING TO THIS PILL. YOU KNOW, THEY'RE GOING TO HAVE A MEETING – AND NOW THEY'RE GOING TO HAVE A MEETING , BECAUSE YOU HAVE TO GET THE VOTE OF THE SHAREHOLDERS TO APPROVE OF GIVING HALF YOUR COMPANY AWAY. THEY'RE – IN THIS DEAL IT'S TANTAMOUNT TO GIVING HALF THE COMPANY AWAY AND PAYING 75% HIGHER THAN WHAT THE COMPANY WAS VALUED AT ONLY SIX MONTHS AGO. IT'S THE MOST LUDICROUS THING I'VE EVER SEEN.

WAPNER: HOW OPTIMISTIC ARE YOU THAT YOU CAN STOP THEM FROM DOING THIS DEAL?

ICAHN: WELL, I'M GOING TO TELL YOU, YOU KNOW, I'VE BEEN PRETTY GOOD AT THIS FOR THE PAST HOPEFULLY – THIS IS WHAT I DO, AND I WILL TELL YOU THAT I'M GOING TO GIVE IT MY BEST COLLEGE TRY. IT'S NOT THAT I'M WALKING AWAY AND NOT DOING IT. NOW, I WILL TELL YOU IT'S A LITTLE BINARY FOR THE COMPANY IN MY OPINION, BECAUSE IF THEY GET THIS DEAL THROUGH, THIS COMPANY IS WORTH, IN MY MIND AND WHAT THE MARKET SAID, THEY JUST DILUTED THE COMPANY OF ABOUT 40% OF ITS WORTH. NOW, THEY'LL COME UP WITH A LOT OF ARGUMENTS, THEY HAVEN'T. BUT THERE'S NO QUESTION THAT THEYRE DOING THIS FOR OTHER REASONS IN MY OPINION, TO ENTRENCH THEMSELVES AND FOR BENNETT TO GET HIMSELF ANOTHER $50,000 MILLION. I HATE TO USE THE WORD "STEAL" BUT THAT'S AS CLOSE AS I CAN THINK ABOUT IT. THIS IS WHAT'S HAPPENING AND WE'RE NOT GOING TO LET IT HAPPEN.

WAPNER: YOU'RE NOT THE ONLY LARGE HOLDER THAT APPEARS TO BE AGAINST THE DEAL AS WELL, SUSQUEHANNA ADVISORS, CANNELL CAPITAL, YOU MENTIONED FIR TREE PARTNERS. WE BY THE WAY, REACHED OUT TO SANDRIDGE TODAY TO LET THEM KNOW THAT YOU WERE COMING ON TO SEE IF THEY HAVE ANY COMMENT. THEY HAVE NO COMMENT, BUT YOU'RE CLEARLY NOT THE ONLY VOICE HERE OF A LARGE HOLDER PERSPECTIVE THAT'S AGAINST THIS DEAL.

ICAHN: YEAH, I'M REALLY HAPPY ABOUT THAT. I WILL TELL YOU CATEGORICALLY, NOT BECAUSE I PLANNED IT THAT WAY, BUT I DON'T KNOW ANY OF THESE PEOPLE. YOU KNOW, I KNOW A LOT OF FUNDS AND HEDGE FUNDS AND WHATEVER, BUT I JUST DON'T HAPPEN TO KNOW OR HAVE SPOKEN TO FIR TREE OR TO ANY OF THOSE. SO I WILL TELL YOU THAT IT'S NOT SOMETHING THAT WAS PLANNED OR ANYTHING LIKE THAT. NOT THAT IT'S TERRIBLE TO PLAN IT. I MEAN, I THINK YOU HAVE A RIGHT TO GO TO SHAREHOLDERS. – IN AN ELECTION, YOU'RE RUNNING FOR CONGRESS, SOMEBODY ELSE IS RUNNING FOR CONGRESS, THEY'RE TELLING YOU THAT YOU DON'T HAVE A RIGHT TO GO TO ANYBODY AND ASK THEM TO VOTE FOR YOU. I MEAN THIS IS AS BAD AS IT GETS.

WAPNER: IS IT THIS PARTICULAR DEAL THAT YOU'RE SO VOCIFEROUSLY AGAINST? WOULD YOU PREFER THAT THE COMPANY DOES A DIFFERENT DEAL, OR THIS DEAL AT A DIFFERENT PRICE?

ICAHN: NO, I DON'T WANT – I THINK -- I DON'T WANT TO SEE THE STOCK DILUTED, WHICH WILL HELP THEM BE ENTRENCHED. I THINK THEY'RE A TERRIBLE BOARD. AND I THINK, THEY GOT, I THINK, AFTER THE BANKRUPTCY –BENNETT PRESIDED OVER BANKRUPTCY, HE DESTROYED ALL THE VALUE, GOT $50 MILLION AND NOW HE'S TRYING TO DO IT AGAIN, HE'S STILL THERE. AND SO I JUST THINK THE BOARD IS REALLY BAD AND WHAT HAVE YOU. BUT I THINK IT'S DEEPER THAN THAT. NORMALLY THIS WOULD BE A LITTLE SMALL FOR ME, YOU KNOW. AND SO IT WASN'T SOMETHING THAT, LOOK, I WANT TO GO GET SANDRIDGE EVEN THOUGH I THINK IT'S BADLY RUN. THERE ARE OTHER COMPANIES GOD KNOWS THAT ARE BADLY RUN. BUT I THINK THE CONCEPT OF THIS IS SO OUTRAGEOUS AND REPREHENSIBLE THAT IT'S SORT OF GOT TO BE STOPPED. AND IF IT'S NOT STOPPED, I REALLY THINK TODAY IN THE EUPHORIA WE HAVE, I DON'T THINK ANYBODY IS TOO CONCERNED, CORPORATE GOVERNANCE, SO WHAT, LOOK HOW GREAT IT IS. BUT IT'S NOT GOING TO REMAIN GREAT FOREVER. AND I THINK, ONE OF THE GREAT THINGS ABOUT OUR COUNTRY AS I'VE SAID FOR YEARS IS DEMOCRACY, AND ONE OF THE GREAT THINGS ABOUT OUR CORPORATIONS IS THAT YOU CAN GO AND CHANGE THE COMPANIES IF THEY'RE BADLY RUN.

WAPNER: YOU JUST USED THE WORD "EUPHORIA" AND I'D LIKE TO SWITCH OUR ATTENTION TO THE STOCK MARKET. RIGHT NOW THE DOW JONES INDUSTRIAL AVERAGE TODAY IS UP 232 POINTS AS WE SPEAK CROSSING, 24,000 FOR THE FIRST TIME EVER. WE HAVEN'T SPOKEN SINCE THE INAUGURATION WHEN YOU WERE WILDLY POSITIVE ABOUT WHAT COULD TAKE PLACE IN THIS COUNTRY FROM A BUSINESS STANDPOINT BECAUSE OF PRESIDENT TRUMP. I'M WONDERING WHAT YOU THINK TODAY AS WE MARK YET ANOTHER MILESTONE FOR STOCKS?

ICAHN: WELL, LOOK, I MUST ADMIT I REALLY THOUGHT TRUMP WAS GOING TO REALLY CHANGE THE LANDSCAPE, AND HE CERTAINLY HAS GONE FAR TO DO THAT. I'M NOT THAT INVOLVED WITH WASHINGTON, AS YOU KNOW, BUT I AM -- I HAVE TO SAY SURPRISED AT THE EUPHORIA. YOU KNOW, I THINK -- I PERSONALLY THINK, THAT'S JUST ME TALKING. YOU KNOW, THIS IS LIKE GOING TO VEGAS AND ASKING IS THE ROULETTE WHEEL GOING TO COME UP BLACK OR RED? IN OTHER WORDS, I THINK IT'S VERY DIFFICULT TO NOW PREDICT WHAT'S GOING TO HAPPEN IN THE NEXT WEEK OR THE NEXT MONTH. BUT I WILL TELL YOU THAT I REALLY THINK EVEN THOUGH EARNINGS ARE GOING TO BE VERY GOOD AND EVEN, AND WHAT HAVE YOU, I JUST THINK THIS THING HAS GOT INTO A EUPHORIC STATE. AND TO QUOTE WHAT GREENSPAN SAID MANY, MANY YEARS AGO, I THINK THERE'S A BIT OF IRRATIONAL EXUBERANCE RIGHT NOW. BUT BEING THAT SAID, I DO THINK THAT WITH THE TAX BREAK AND WITH THE WAY YOU HAVE THE EMERGING MARKETS BEING SO STRONG, I HAVE TO ADMIT THAT THERE MIGHT BE A VERY STRONG UNDERPINING TO THIS MARKET/ SO IN OTHER WORDS I JUST THINK IT'S RUNAWAY AND MIGHT HAVE A BIG CORRECTION BUT I CAN'T SAY IT'S INSANE. SO MAYBE I SHOULDNT SAY IRRATIONAL EXUBERANCE, MAYBE I SHOULD SAY A LITTLE TOO MUCH EXUBERANCE AT THIS TIME, I THINK IS A BETTER WAY TO PUT IT.

WAPNER: LOOK, THE MARKET WENT UP SOME FOUR MORE YEARS, I BELIEVE, AFTER ALLEN GREENSPAN SAID THOSE WORDS. SO YOU CAN STILL BE IRRATIONALLY EXUBERANT AND STILL HAVE AS YOU SAY, A LONG RUNWAY BEFORE US. IS THAT THE ENVIRONMENT THAT YOU THINK GIVEN TAXES, WHAT'S GOING ON WITH THE GLOBAL ECONOMIC RECOVERY AND SO MANY OTHER THINGS THAT SEEM TO BE A TAILWIND FOR STOCKS?

ICAHN: YEAH, YEAH, I WANT TO CHANGE THE WORD IRRATIONAL EXUBERANCE. IT'S PROBABLY NOT COMPLETELY IRRATIONAL MEANING THERE'S A LOT OF UNDERPINING, THERE'S A LOT OF STRENGTH. AND I AM JUST SURPRISED THAT IT HAPPENED WITH SUCH A GREAT FORCE AND MOMENTUM AND YET -- SO I DO THINK -- YOU KNOW, WHEN THAT KIND OF THING HAPPENS, THERE ARE CORRECTIONS SO YOU HAVE TO BE VERY CAUTIOUS. SO OBVIOUSLY I'M NOT SAYING ANYTHING THAT THESE PEOPLE DON'T QUITE UNDERSTAND THEMSELVES.

WAPNER: SURE. I NOTED AS WELL WITH SANDRIDGE THAT IT'S YOUR FIRST NEW ACTIVIST POSITION OF THE YEAR, WHICH BEGAN IN OCTOBER, WHICH IS NEWS IN AND OF ITSELF. YOU'RE NORMALLY A PRETTY ACTIVE PERSON IN THE MARKET. IS THAT REPRESENTATIVE OF HOW YOU VIEW IN SOME RESPECTS WHERE STOCKS ARE? THAT GOOD VALUES, UNDERVALUED STOCKS AS YOU LIKE YOU LIKE TO SAY ARE HARDER TO FIND IN THIS ENVIRONMENT AND THAT'S WHY THIS IS YOUR FIRST SO LATE IN THIS YEAR?

ICAHN: YES, YOU'RE DEFINITELY CORRECT. THAT— IT'S HARD TO FIND -- YOU KNOW, WHEN YOU DO THIS ACTIVISM, YOU'VE SORT OF GOT TO FEEL IT'S A NO-BRAINER. YOU'VE GOT TO FEEL THAT YOU'VE GOT A LOT OF VALUE IN IT, AND THAT – YOU KNOW, SO THAT IF YOU'RE RIGHT, YOU PUT IN A LOT OF EFFORT INTO IT AND SO YOU'VE GOT TO SAY LOOK, LIKE IN EBAY, WE SAID LOOK AT THE JEWEL PAYPAL, ALL YOU'VE GOT TO DO IS GET THEM SEPARATED. SO YOU'VE GOT TO HAVE SOMETHING THAT WILL DRAMATICALLY INCREASE VALUE WHEN YOU DO IT. AND SO THERE ARE VERY FEW THINGS THAT I FIND WHERE THAT EXISTS TODAY WHERE YOU CAN DRAMATICALLY INCREASE VALUE WITHOUT WORRYING THAT YOU'RE GOING TO GET A CORRECTION THAT'S GOING TO HURT YOU BADLY. SO IT'S NOT AN EASY -- IT'S CERTAINLY NOT AN EASY MARKET. AND I DON'T THINK ANYONE, ANYONE IS GOING TO TELL YOU, OH, YOU KNOW, THIS IS A NO-BRAINER. YOU KNOW, THESE COMPANIES I'M BUYING, THEY'RE JUST GREAT AND NOTHING CAN HAPPEN TO THEM. YOU KNOW, LOOKING BACK, AND I'VE BEEN IN IT A LONG TIME, YOU KNOW, SOMETHING LIKE NORTH KOREA WILL HAPPEN AND THE MARKET WILL BE GETTING REALLY BADLY DAMAGED, WHILE EVERYBODY IS A LITTLE SCARED OF WHAT'S GOING TO HAPPEN. TODAY IS SORT OF JUST – ALL THIS STUFF IS JUST BRUSHED OFF. SO IT'S SURPRISING TO ME THAT IT'S HAD THIS -- ESPECIALLY IN THE LIGHT -- I USED KOREA AS ONE EXAMPLE BUT A FEW OTHER THINGS. SO IN LIGHT OF THAT, I'M SURPRISED AT THE EXUBERANCE. BUT I WANT TO CORRECT WHAT I SAID, I DON'T THINK IT'S COMPLETELY IRRATIONAL BECAUSE I THINK THERE IS, I THINK AN UNDERPINING TO MANY OF THESE COMPANIES.

WAPNER: LASTLY, BEFORE I LET YOU GO, BECAUSE I KNOW YOU DO HAVE TO GO, WHAT DO YOU MAKE OF BITCOIN? ARE YOU AN INVESTOR, IN ANY WAY IN IT? WHAT DO YOU THINK ABOUT IT?

ICAHN: I'VE GOT TO TELL YOU HONESTLY, I DON'T UNDERSTAND IT. SO, I'M THE LAST GUY TO -- I JUST DON'T GET IT I JUST STAY OUT OF SOMETHING THAT I DON'T UNDERSTAND. SO, I LEAVE THAT TO OTHERS TO EXPLAIN AND TALK ABOUT.

WAPNER: ARE YOU MARVELLED BY WHAT YOU SEE THERE?

ICAHN: YEAH, IT'S LIKE SORT OF AMAZING TO ME. IT'S ONE OF THESE THINGS, I COME OUT, IF YOU READ HISTORY BOOKS ABOUT ALL THESE BUBBLES, YOU KNOW. LIKE THE MISSISSIPPI BUBBLE AND ALL, WHERE JOHN LAW WENT AROUND SELLING ALL THIS LAND IN MISSISSIPPI THAT WAS SORT OF WORTHLESS AND THE FRENCH WERE GOING CRAZY GIVING HIM ALL THIS MONEY, AND THEN ONE NIGHT IT ALL BLEW UP AND THEY WERE AFTER -- THIS WAS THE TIME LOUIS XIV WHO DIDN'T LIKE HIM ANYWAY. I MEAN THERE'S BOOKS -- THERE'S BOOKS ON THESE BUBBLES. AND TO ME, THIS IS WHAT THIS IS. BUT I'M THE LAST GUY TO SAY THAT BECAUSE I REALLY DON'T – I COULD TALK ABOUT BUBBLES IN CERTAIN AREAS THAT I THINK EXIST SOMETIMES, LIKE IN REAL ESTATE WHEN YOU HAVE THESE APARTMENTS IN NEW YORK GOING FOR $200 MILLION AND YOU HAVE ARTWORKS GOING FOR $400 MILLION, I SAY, HEY, THOSE ARE BUBBLES CAUSED BY THIS LOW INTEREST RATES. BUT I CAN'T TALK ABOUT BITCOIN I DON'T UNDERSTAND HOW THE HELL IT GETS UP THERE.

WAPNER: IT IS QUITE REMARKABLE. IT CERTAINLY HAS A LOT OF PEOPLE FOLLOWING IT. CARL, WE APPRECIATE YOUR TIME. IT'S GOOD TO TALK TO YOU AGAIN. IT'S BEEN A WHILE.

ICAHN: GOOD TALKING TO YOU AGAIN, SCOTT. THANKS FOR CALLING.

WAPNER: YOU BET, TAKE CARE. ALRIGHT. CARL ICAHN JOINING US THERE ON THE PHONE.

For more information contact:

Jennifer Dauble
CNBC
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e: jennifer.dauble@nbcuni.com

Emma Martin
CNBC
t: 201.735.4713
e: emma.martin@nbcuni.com

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