Dallas Mavericks owner Mark Cuban has a bleak outlook for America’s economy if Donald Trump is elected president.
The billionaire and supporter of Democratic presidential nominee Hillary Clinton is not a fan of Trump’s and he commented on his investment strategies in case of a GOP victory in November.
“I think there are so many external global influences on our market. You know what money comes here when there’s uncertainty overseas,” Cuban said Tuesday on Fox Business Network’s “Cavuto: Coast to Coast.”
“What money goes into treasuries and where does it go if rates go higher or lower — and then there’s the uncertainty of the election… I have my Trump hedge on,” he continued. “In the event Donald wins, I have no doubt in my mind that the market tanks. And so, I literally have put on more than 100% hedge… that I’ll put on stronger if it looks like there’s a better chance as we go forward.”
Cuban blamed his pessimism on the uncertainty of the election and Trump.
“We don’t know what Donald Trump’s plans are. All we know are a little bit about his immigration, which tends to change on a day-to-day basis, and we know he will reduce taxes significantly,” he said. “One thing markets hate is uncertainty, and right now with Donald, there’s uncertainly. And on the global peace basis, all he has to do is say the wrong thing one time.”
Video from Fox Business Network.
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Originally from New York, Powers graduated from New York University and eventually made her way to sunny South Florida where she has been writing for the BizPacReview team since 2015.
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