Financial guru and Donald Trump adviser Wilbur Ross warns that a Hillary Clinton presidency will mean a “third term of (Barack) Obama” and a "recession within the next two years."
The stock market, which has been favoring a Clinton win, would warm to a Trump presidency, the WL Ross & Co. chairman and CEO told CNBC.
"As soon as Trump announces his Cabinet choices, the market will feel better."
Ross said Trump has a record of making good personal choices, citing as examples the Republican nominee's proposed list of Supreme Court picks and bringing Indiana Gov. Mike Pence on board as his vice presidential choice, CNBC explained.
But a Clinton presidency would offer nothing good for America.
"I think the equivalent of third term Barack Obama means that we will go into a recession within the next two years," he said, noting that economy is on shaky ground after eight years of Obama.
"We're already pretty long in the tooth, even though this recovery is the weakest we've had in decades and decades," he said.
An investor and businessman who made his billions advising bankruptcies and restructuring flailing companies, Ross was No. 20 in Newsmax's 100 Most Influential Business Leaders in America.
But this election has nearly soured even the most respected financial voices.
For his part, international investor Jim Rogers doesn’t really care for either White House contender.
The investment guru and chairman of Rogers Holdings warns that while Donald Trump would no doubt force America into bankruptcy and trade wars during his presidency, he doesn’t think the country would really fare any better under Hillary Clinton’s administration.
About the best he can say for Clinton is that the economic decline would happen at a slower pace under her watch than under President Trump, Rogers told ETMarkets.com.
Trump would go for a trade war, which would make the U.S. dollar go up at least for some time, but it will eventually lead to bankruptcy, Rogers said
Rogers said that oil would probably not go down, but stocks and gold might, as people would be worried about bankruptcy and war. Commodity prices have already been inflated by 50-60% at present. These might see some consolidation, he added. He said a savvy investor should be long on commodities.
Rogers isn't the only respected economic guru to sour on both presidential candidates.
(Newsmax wire services contributed to this report).
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