Billionaire Investor Druckenmiller: The Market Is Pretty Sure Trump Will Win

Billionaire investor Stan Druckenmiller (Stan Druckenmiller) said the market is counting Trump's victory in the price ahead of next month's US presidential election.

Drucken Miller said in a television interview on Wednesday that over the past 12 days, the market seemed “very confident that Trump will win” and “you can see this in bank stocks, as well as in cryptocurrencies.”

However, he will neither vote for Trump nor for Harris. Drucken Miller called Trump a “bragger” and thought he wasn't strong enough to be president, while he said Harris would be bad for business. He didn't donate to any of the candidates.

Drucken Miller, 71, managed funds for George Soros (George Soros) for more than a decade and funded Nikki Haley (Nikki Haley)'s primary campaign against Trump. He predicted that even if Harris wins the presidential election, it is “highly unlikely” that the Democratic Party will gain control of Congress.

He said that if a so-called “blue sweep” (blue sweep) occurs, the stock market could be plagued for three to six months. However, he said that under Trump's presidency, a “red sweep” is more likely than a “blue sweep.”

Scott Bessent (Scott Bessent) has also worked for Soros Fund Management (Soros Fund Management), and he has been advising the Trump campaign on economic issues. He proposed the idea of establishing a shadow chairman of the Federal Reserve. Until current Chairman Powell's term expires in May 2026, the shadow chairman can be a potential opponent of the current chairman.

But Drucken Miller said that shadowing the Federal Reserve “is a terrible idea and irresponsible.”

He said that it was a mistake for the Fed to cut interest rates by 50 basis points in September; his company, Duquesne Family Office, shorted the bonds after the Federal Reserve announced interest rate cuts.

Drucken Miller believes that the market needs to ease expectations about the pace and extent of the central bank's easing.

He also said on Wednesday that his decision to sell Nvidia this year was a “big mistake.” He said, “I've made a lot of mistakes in my investment career, and one of them was that I sold all of my Nvidias between $800 and $950. It has tripled in a year, and I think the valuation is very high. Nvidia is a fantastic company, and if the price falls back, we'll step in again. But now, I'm still licking my wounds for a terrible sale.”