(Bloomberg) -- Carl Icahn criticized asset management firms such as BlackRock for selling ETFs that give an illusion of liquidity for “extremely illiquid, and extremely overpriced” securities such as high yield bonds.

The billionaire investor, who has said in the past that he’s betting against the high-yield market, told BlackRock Chief Executive Officer Laurence D. Fink at the CNBC Institutional Investor Delivering Alpha Conference that such instruments are “extremely dangerous.” Fink disputed the characterization.

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