I think, if Harris [were] elected, I would pull my money from the market. I’d go into cash, and I’d go into gold, because I think the uncertainty regarding the plans they outlined would create a lot of uncertainty in the markets and likely lower markets.’
John Paulson
That’s John Paulson, the investor who correctly predicted the subprime mortgage bubble. He said he would take his money out of the market if Vice President Kamala Harris wins the election for president.
“If Harris were elected, I think I would take my money out of the market.” Paulson told Fox Business Network, “I’d put my money in cash and gold because I think the lack of clarity about the plans they laid out would cause a lot of uncertainty in the markets and probably bring them down.”
Paulson is not a third party looking on. He has given money to Donald Trump’s presidential efforts for a long time.
Paulson said that the party in charge of Congress will be important because he said that a tax on families with $100 million in assets on unrealized gains would make a lot of people sell “almost everything,” including stocks, bonds, homes, and art. This tax would affect Paulson personally.
Trump wants to lift the limit on SALT payments. Don’t miss it. It was there because of his tax law in 2017.
The company he held the most, Madrigal Pharmaceuticals MDGL 3.62%, was not included in his threat to sell. “Well, I think Madrigal is a target for takeover.” “If that is taken over, it wouldn’t really have anything to do with the market as a whole,” he said.
A 13-F report with the Securities and Exchange Commission shows that Paulson also owns BrightSphere Investment BSIG 2.07%, Bausch Health BHC 0.44%, Perpetua Resources PPTA 0.23%, and NovaGold Resources NG 1.32%.
