Mark Cuban: If Donald Trump Wins the Markets Will Tank
During an interview on the FOX Business Networkâ€™s Cavuto: Coast to Coast, Dallas Mavericks owner Mark Cuban discussed how the election impacts his investment decisions.
â€œI think there are so many external global influences on our market. You know what money comes here when thereâ€™s uncertainty overseas. What money goes into treasuries and where does it go if rates go higher or lower -- and then thereâ€™s the uncertainty of the electionâ€¦ I have my Trump hedge on. 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% hedgeâ€¦ that Iâ€™ll put on stronger if it looks like thereâ€™s a better chance as we go forward,â€ he told Neil Cavuto.
The â€œShark Tankâ€ investor, who is worth an estimated $2.6 billion according to Forbes, said Donald Trumpâ€™s policies create uncertainty within the markets.
â€œRight now, all we know a little bit about is immigration which tends to change on a day-to-day basis and we know he is going to reduce taxes significantly. When you reduce taxes significantly thereâ€™s a timeline involved. Everybody is going to put off selling and doing anything until next year because of the drop in tax rates, if heâ€™s able to get it passed, and because of that, youâ€™re going to see a huge sell off,â€ he said.
He added, â€œThen on the global peace basis all he has to do is say the wrong thing one time and thereâ€™s no good that will come of it.â€