By Daily Crux Editor Justin Brill:

You can count billionaire investor Carl Icahn out... He's not buying the recovery.

Icahn's cautious on the markets and says the economy is "on a precipice right now and it could really go either way." He says that "the market is schizophrenic at this point" and investors shouldn't look at the markets as a good indicator of the economy. There's a real risk the economy isn't out of the recession, and the second leg could cause "a bit of a bloodbath" for individual investors.

Icahn thinks individual investors are going to get burned because they're investing in funds with managers that don't have enough experience to deal with the "distressed stuff they're buying."

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