Published On: Tue, May 17th, 2016

Mark Cuban: ‘Huge, huge’ losses for stocks if Trump wins

Mavericks' owner says losses could exceed 20%

Mark-Cuban_Dallas-Mavericks

Speaking to Erin Burnett, Mark Cuban told CNN on Monday that if the election were held today, he’d probably vote for Hillary Clinton.

The billionaire owner of the NBA’s Dallas Mavericks, believes a Donald Trump victory would be a big loss for everyone with money in the stock market.

He says that Trump presents a problem for Wall Street, in that it likes certainty and not shifting positions. Cuban rhinks the losses could exceed 20%.

The host of “Shark Tank”, said “When you have that amount of uncertainty, when there’s, you know, flip-flopping, when you’re not sure what the candidate is going to say from one thing to another, that uncertainty, you know, potentially as president of the United States, that’s the last thing Wall Street wants to hear, And I can say with 100% certainty that there’s a really good chance we could see a huge, huge, correction. Even today, there was an article on Reuters that said that Carl Icahn, supposedly someone who’s supporting Donald and is mentoring him, in economics and finance, has taken a huge, 150% short position.”

“That’s not a good thing. That’s horrific.”

 

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