Legendary Investor Says Markets Show Trump Victory Incoming, Compares 2024 To Reagan’s 1980 Landslide

Stanley Druckenmiller, the iconic billionaire investor, hedge fund manager, and scion of Wall Street, was around for Ronald Reagan’s sweeping 1980 victory. Looking at the state of the presidential race today, he predicted, former President Donald Trump is headed for a similar landslide victory.

The Duquesne Family Office Chair and CEO spoke with Bloomberg about the “evolving situation” he sees and how it has been trending in Trump’s favor for nearly two weeks. “If you’d asked me this twelve days ago I’d have told you I don’t have a clue and it’s a total toss-up. I still don’t have conviction who’s gonna win on the election, but as I said earlier I like market indicators for the economy and for financial restrictiveness. I also like them for elections,” Druckenmiller told reporter Sonali Basak.

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“I remember how right the market was on Ronald Reagan” winning the presidency in 1980, he went on. “And I must say in the last twelve days the market and the inside of the market is very convinced Trump is going to win. You can see it in the bank stocks. You can see it in crypto. You can even see it in [Truth Social], his social media company … So if you put a gun to my head,” Druckenmiller predicted, “I would have to guess Trump is the favorite to win the election.”

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For decades, Druckenmiller has stumped competitors and drawn soaring adoration from his clients for posting an average 30% annual return on billions of dollars under management. The Pennsylvania native has been a bullish supporter in the past of former New Jersey governor Chris Christie, former Florida governor Jeb Bush, and former congressman John Kasich, all moderate Republican presidential aspirants who came up short. This year, Druckenmiller has committed to not voting for either Trump or Harris, Bloomberg previously reported.

His prediction is in line with those in the political betting markets which are approaching a two-to-one position in support of Trump over Harris as well as a Fox News poll released Thursday showing the Republican with a 2% lead over Harris, a 4-point swing from a month earlier. Longtime political analyst Nate Silver moved 19 key states into Trump’s column if the election were held today: those include a number of swing states like Arizona, where Trump is now favored to win heavily according to recent polls, as well as the must-win state of Pennsylvania where he recently opened up a 2% lead.

In what was perhaps a tacit acknowledgment of her troubles, Harris on Wednesday sat for a contentious interview with Fox News’ Bret Baier, squabbling over her record on immigration and drastic shifts in policy since her 2019 campaign for president. She denied supporting the Green New Deal, legislation she previously said she would work to pass by eliminating the Senate filibuster. When challenged on her past support for publicly-funded gender reassignment surgeries for federal inmates, Harris contended it is instead Trump who supports the policy.

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