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Carl Icahn says would 'keep cash' given market risks: CNBC

Reuters
Billionaire activist-investor Carl Icahn gives an interview on FOX Business Network's Neil Cavuto show in New York, in this file photo taken February 11, 2014. REUTERS/Brendan McDermid/Files

NEW YORK (Reuters) - Billionaire activist investor Carl Icahn said on Wednesday that he would recommend investors hold cash given market risks and that he was considering buying "a lot more" shares of Apple Inc..

"I would say keep cash," Icahn told cable television network CNBC. "You’re only making 1 percent on your cash - what’s better? Making 1 percent or losing 30 percent?," he said.

On Apple, Icahn said: "I’m very seriously considering buying a lot more of it." Icahn owned about 53 million shares of Apple at the end of the second quarter, according to a Securities and Exchange Commission filing.

(Reporting by Sam Forgione; Editing by Chris Reese)