Legendary investor Stan Druckenmiller has said that the stock market is ‘convinced’ that Donald Trump will win the presidential election. 

‘I would have to guess Trump is the favorite to win the election,’ the billionaire said during an interview with Bloomberg earlier this month. 

Druckenmiller, a hedge fund manager and founder of Duquesne Family Office, said the market appears ‘very convinced’ that the former president will win in November. It comes amid reports that some large hedge fund managers, including Dan Loeb, are getting behind trades that could pay out if Trump is elected next month. 

Druckenmiller said that there are clues in the bank stocks and in cryptocurrency that markets are pricing in a Trump victory. The investor made the comments during an interview on October 16 with Sonali Basak.

She asked what the ‘Druckenmiller playbook’ is around this election cycle and what he thinks the mostly likely scenario is for what will happen next month. 

‘It’s an evolving situation, and if you had asked me this 12 days ago, I would have said, “I don’t have a clue, it’s still a total toss-up, and I don’t have any conviction who is going to win the election,”‘ the 71-year-old billionaire said.

But he said he likes to look to the stock market for indicators as to the future of the economy – and as a clue during elections. 

‘I remember how right the market was on Ronald Reagan in 1980, despite what the pundits were saying,’ he said. ‘And I must say in the last 12 days, the market and the inside of the market is very convinced Trump is going to win. ‘You can see it in the bank stocks, you can see it in crypto, you can even see it in DJT, his social media company.’

Industries that are deregulated are likely to benefit from Trump or outperform other companies, he added. 

Druckenmiller did not endorse either Trump or Vice President Kamala Harris, however, saying that he will likely not vote for either candidate. 

He says he believes their industrial policies are equally bad for free market capitalism, Harris’s policies are ‘worse’ for regulation and business, and called Trump a ‘blowhard.’

‘I don’t judge anyone who wants to vote for Trump, but for me, it’s just a red line, so I’ll probably write in someone when I get to the polls,’ he said. 

Druckenmiller, who has a net worth of around $6.9 billion, made his name managing money for George Soros for more than a decade. He also funded Nikki Haley’s primary campaign against Trump. 

His comments come as major hedge funds are positioning themselves to profit if Donald Trump wins, according to the Wall Street Journal.

Read More Here