Jim Chanos: markets hope Pence replaces trump as president

19.05.2017 / 14:52

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Legendary short seller Jim Chanos lambasted a "disfunctional" Trump administration, saying the markets hope that Vice President Michael Pence becomes president.

Chanos, who has supported Democratic candidates, said investors want a "more stable" person can who can enact the Republican agenda. President Donald Trump has been embroiled in an escalating scandal over his firing of former FBI director James Comey and allegations that he attempted to thwart a FBI probe of his former National Security Adviser Michael Flynn.

“At the end of the day, the markets are looking for tax cuts and lower regulation,” Chanos told the media at the SkyBridge Alternatives Conference in Las Vegas. “As I joke to my Republican friends, it’s great to have lower taxes on capital gains and income, but unfortunately, under Republican presidents you have no income.”

Source: Bloomberg Pro Terminal

Jr Trader Petar Milanov

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Jim Chanos: markets hope Pence replaces trump as president

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