Mark Cuban Predicts ‘Huge, Huge’ Losses for U.S. Stocks if Trump Is Elected
Billionaire businessman Mark Cuban has previously praised Donald Trump for being “the best thing to happen to politics.” But will he vote for him? Probably not.
In recent appearances on both CNN and MSNBC, the Dallas Mavericks owner explained why. For one, he says Trump would be terrible for the stock market. The presumptive Republican nominee has previously posed his unpredictability as a strength, but Cuban told CNN, “that’s the last thing Wall Street wants to hear.” He predicted losses could exceed 20% if Trump is elected.
However, as CNN noted, none of the other candidates would be an investor’s first choice. Bernie Sanders has positioned his campaign as a battle against Wall Street, and Hillary Clinton has proposed raising taxes on investment gains and imposing fees on big banks.
But if Trump and Clinton go head to head, Cuban says he would “probably” vote for the latter. He explained that Trump lists certain things he’d like to do, “but doesn’t say how he’s going to get there.” Meanwhile, if you head over to Clinton’s website, “there’s spreadsheets, there’s depth, there’s analysis, there’s details.” Cuban is also skeptical of Trump’s isolationist tactics, saying that you “can’t act as a standalone entity” in this global financial environment.
As for Trump’s business acumen, Cuban doesn’t seem impressed. He told MSNBC that he’s “amazing” when it comes to real estate, but his other business ventures have been flops. “The products he puts his name on suggest that he just needed the money,” Cuban said. “You know, steaks, suits, water, university, you name it. There’s no rhyme or reason there.”