Trump: ‘Rich Guys’ Talk Down Stocks to Make a Profit

Savage Premium Subscription


President Donald Trump urged investors to be wary of “rich guys” using their platform to comment negatively about stocks, when they tend to profit from betting against the market. “When the so-called ‘rich guys’ speak negatively about the market, you must always remember that some are betting big against it, and make a lot of money if it goes down,” Trump tweeted. “Then they go positive, get big publicity, and make it going up. They get you both ways. Barely legal?” While Trump didn’t specify whom he was referring to, his comments followed billionaire hedge fund manager Stanley Druckenmiller’s remarks about the stock market being historically overvalued, CNBC explained. “The risk-reward for equity is maybe as bad as I’ve seen it in my career,” Druckemiller told the Economic Club of New York. “The wild card here is the Fed can always step up their (asset) purchases.”