Billionaire investor Mark Cuban says he has his "Trump hedge on," predicting stock market chaos if GOP presidential nominee Donald Trump wins the election.
In an interview Tuesday on Fox Business anchor Neil Cavuto's show "Coast to Coast," the "Sharktank" reality TV personality warns: "In the event Donald wins, I have no doubt in my mind the market tanks."
The remarks start at about the 5:15-minute mark of the video posted above.
"There are so many external global influences on our market," Cuban said. "You know, what money comes here when there is uncertainty overseas, what money goes into Treasurys, where does money go if rates go higher or lower?"
And then there's the November presidential election.
"I have my Trump hedge on," asserting "if the polls look like there's a decent chance Donald could win," he'd "put a hedge on" that's worth "over 100 percent of my equity positions and my bond position, as well, that protects me just in case he wins."
Pressed on what was so "horrible about the prospect," Cuban, who has endorsed Hillary Clinton, replies: "All the uncertainty."
"We don't know what Donald Trump's plans are," he said. "All we know are a little bit about his immigration, which tends to change on a day-to-day basis, and we know he will reduce taxes significantly."
But when taxes are cut significantly, "there is a timeline involved," he said.
"Everybody is going to put off selling and doing anything until next year, because of the drop in tax rate, if he's able to get it passed. And because of that, you're going to see a huge selloff in stocks because people will take advantage of any type of tax gain, and who knows if the flip side comes through to prop it back up," he said, adding:
"One thing markets hate is uncertainty, and right now with Donald, there's uncertainly. And on the global peace basis, all he has to do is say the wrong thing one time."
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