Billionaire Tony Ressler: There's 'no doubt' a Trump win would trigger market volatility
Billionaire Tony Ressler, the co-founder and CEO of Ares Management (ARES), a publicly traded asset management firm with $100 billion in assets, says there’s “no doubt” volatility in the market will increase if Donald Trump wins the presidential election.
“I personally think, not betting on who’s going to win … but I do think Donald Trump as president would add meaningfully to the volatility in the marketplace. I believe that to my core because he makes statements that the president of the United States I think should be very, very hesitant to make. And I think those are going to have really really significant impacts on volatility in the marketplace,” Ressler said at the Bloomberg Markets Most Influential Summit in New York on Wednesday.
He explained that uncertainty would lead to increased levels of volatility — and increased levels of volatility make all sorts of businesses nervous.
The 54-year-old private equity veteran added that Trump’s suggestion of lowering the corporate tax rate would help more companies “be more comfortable” staying in the US.
“I would like to suggest that some of the things he says make sense,” Ressler said. “There’s no doubt in my mind volatility will increase even more so than some expect.”
Earlier at the summit, investment banker Ken Moelis, the CEO of Moelis & Co. (MC) said although either candidate can “blow it,” he’s predicting a Trump win.
Julia La Roche is a finance reporter at Yahoo Finance.
Read more:
Ford CEO: Autonomous cars could influence society as much as Henry Ford’s assembly line
RAOUL PAL: It’s not a big storm yet, but the clouds are everywhere
Hedge fund CIO explains why returns aren’t what they used to be
Sallie Krawcheck: These are the biggest mistakes women make investing
