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Carl Icahn on CNBC says a lot of companies are 'way overvalued'

NEW YORK Oct 17 Billionaire investor Carl Icahn told CNBC on Monday that many S&P 500 companies are "way overvalued" considering the risk in emerging markets.

Icahn says he is "more and more concerned" about the U.S. stock market but still stood by his major investment in Herbalife ltd, which he called "undervalued, a good model and gives jobs to a lot of people." (Reporting By Jennifer Ablan)

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