Billionaire hedge fund investor Stanley Druckenmiller thinks President Trump will lose his re-election bid, but he’s especially concerned that a far-left Democrat will beat him and hurt stocks.
Druckenmiller said he believes Trump will lose his re-election bid thanks to discontent in key swing states. He just hopes the winner is more centrist and not one espousing socialist policies.
P/E is shorthand for the price-earnings ratio, a metric used by investors to gauge the relative expensiveness of securities. When P/Es are high, investors believe the growth outlook for the economy is strong and are willing to pay more for each dollar of earnings. It's the viewpoint of Druckenmiller and other hedge fund managers that a far-left candidate would reduce investors' appetite for paying up for stocks.
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