Panic is in the air. The status quo is being threatened by a rabid animal who intends to cut taxes. In a Fox News interview, Marc Cuban cited two specific reasons why he’s 100% hedged in both stocks and bonds (nonsensical) in the event of a tyrannical Trump win.
Trump will lower taxes (the fucking horror).
Cuban feels lower taxes will cause businesses to delay investment until the lower rates take effect. I cannot think of a dumber fucking reason to sell stocks than fearing reprisals of a lower tax rate.
Uncertainty and the off chance that Trump will start WW3 with his gigantic mouth is enough to cause markets to stumble.
Any normal thinking person wouldn’t view these two topics as reasons to fear a Trump presidency. If anything, his shit talking of the Fed and calling the economy ‘false’, although accurate and true, aren’t exactly catalysts for investor confidence.
In short, Marc Cuban is one of the luckiest men in the world, being at the right place at the right time, selling his piece of shit internet company to Yahoo at the top of the dot com bubble. Since then, he’s made a mockery of himself at the Dallas Mavericks and has taken high profile arguments against investing in stocks for as long as I can remember.
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Of course they tank if Trump wins. The bigger issue is why do we assume this is bad? Esp with ZIRP4eva there is so much malinvestment around. With a nice little two year bear market all of that will clear and everyone has a better dip to buy.
Down markets aren’t always bad. Down markets are not all 2008. Sometimes you need fire to clear the dead wood and create a healthier forest.
Boombust 99 Boombust 08 Boombust
But the thing about walls of worry is that people like to climb them. Because everyone thinks a Trump win will mean DOWN, DOWN, DOWN, it might–in fact–go up.
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Agree from a sentiment standpoint, but very much disagree from a policy standpoint. Trump will be bad for revenue-less, ZIRP-dependent dumpster fires that are currently flush with cash because investors “need yield.” It unravels, imo.
Cuban for 2024!
I am hoping for a brexit style sell off for a few days, then the fed will do what they do and sell loads of volatility, stabilize things, and everyone misses another awesome buying opportunity.
Spot on being the luckiest guy in earth dumping that piece of shit before the meltdown. I am about sick of hearing his two cents for every fucking topic. He’s just jealous as trump beat him to the punch. He wishes he would have announced. His luck has run out
Mark Cuban proof it’s better to be lucky than smart. So Yahoo’s the one who made him a billionaire? Another great decision in the history of Yahoo.
Credit to Mark for selling at the top. But that is surely mostly luck – right place right time. He’s very smart, but needs a reality check. He is not the master of all things he pretends to be.
Why is Marc Cuban on Fox News?
Why is still wearing the Iron Man shirt he had from last nights cocaine party?
Who picked him to speak on the global market?
Why is his thesis so terribly unprepared?
I am glad you quit the carry trade. Your writing has become, if anything, more incisive. This was what you were put on earth to do.
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Is that the real marketing?
Cuban is a dick.
I am sensing a theme here.
If anything, Que-ball should hedge out and go short in a Hillary win as she would continue provoking Russian and China in a nuclear armageddon, not to mention her parkinson’s tremors on the nuke switch or perhaps she would go into one of her non-stop coughing fits and mistakenly nuke Botswana