Legendary investor Stan Druckenmiller says stock market is 'very convinced' about who will win the 2024 presidential election

Legendary investor Stan Druckenmiller has said that nan stock market is 'convinced' that Donald Trump will triumph nan statesmanlike election. 

'I would person to conjecture Trump is nan favourite to triumph nan election,' nan billionaire said during an question and reply pinch Bloomberg earlier this month. 

'It's an evolving situation, and if you had asked maine this 12 days ago, I would person said, "I don't person a clue, it's still a full toss-up, and I don't person immoderate condemnation who is going to triumph nan election,"' he continued.

Druckenmiller, a hedge money head and laminitis of Duquesne Family Office, said nan marketplace appears very convinced that nan erstwhile president will triumph successful November - and industries that are deregulated will apt benefit.

It comes amid reports that immoderate ample hedge costs managers, including Dan Loeb, are getting down trades that could salary retired if Trump is elected adjacent month. 

The billionaire did not endorse either Trump aliases Vice President Kamala Harris however, saying that he will apt not ballot for either. 

He says he believes their business policies are arsenic bad for free marketplace capitalism, and Harris's policies are 'worse' for business and regulation. 

'I don't judge anyone who wants to ballot for Trump, but for me, it's conscionable a reddish line, truthful I'll astir apt constitute successful personification erstwhile I get to nan polls,' he said. 

Druckenmiller's comments travel arsenic awesome hedge costs are positioning themselves to profit if Donald Trump wins, according to nan Wall Street Journal.

Big money managers person sensed a garment successful momentum distant from Kamala Harris - and are buying stocks that would use from a Republican victory, specified arsenic those linked to prisons.

For example, GEO Group, a private-prison operator, has jumped 21 percent this October, connected way for its champion period since 2022, while bitcoin miner Riot Platforms has surged 34 percent.

Dan Loeb, a salient hedge money manager, believes a Trump triumph is becoming much likely. 

His $11 cardinal firm, Third Point, is ramping up investments successful stocks and options that guidelines to benefit, while moving distant from companies that whitethorn not thrive nether a Republican administration.

It comes arsenic chap investor Warren Buffett made it known that he won't beryllium endorsing Harris aliases Trump for president. 

A memo from nan 'Sage of Omaha's' patient released Wednesday said he wouldn't beryllium taking a stance successful nan predetermination and immoderate different proposal would beryllium 'fraudulent'. 

Meanwhile Jamie Dimon, CEO of JPMorgan - nan largest slope successful nan US - has reportedly privately endorsed Harris, contempt keeping quiet publicly.