At Zero Hedge by Tyler Durden --
Billionaire investor George Soros spoke to Bloomberg TV in Davos, and said the euphoria among stock investors since the victory of President-elect Donald Trump will end as uncertainty takes over.
In an interview that may have been even gloomier than his last address to Davos in January 2016, when he said he was short the market, predicted a Chinese hard landing, and said the Fed's hike was a mistake, on Thursday Soros unleashed the hate, saying America has elected a "would-be dictator" as president, the European Union is disintegrating, U.K. Prime Minister Theresa May won’t last long as her nation prepares to secede from the EU, and China is poised to become an even more repressive society.
Talking his book, Soros said that 'Uncertainty is at a peak, and actually uncertainty is the enemy of long-term investment," said the chairman of Soros Fund Management. "I don’t think the markets are going to do very well. Right now they’re still celebrating. But when reality comes, it will prevail."
As a reminder, the WSJ reported last week that Soros lost nearly $1 billion as a result of the stock-market rally spurred by Trump’s surprise win in November. Soros became more pessimistic immediately after Trump’s election. But stocks rallied on expectations that Trump’s policies will boost corporate earnings and the overall economy.