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Billionaire investor Stanley Druckenmiller is said to be shorting the US dollar a?? and he expects a Democratic sweep this election to hurt stocks in the coming years

Billionaire investor Stanley Druckenmiller is said to be shorting the US dollar a?? and he expects a Democratic sweep this election to hurt stocks in the coming years


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American billionaire Stanley Druckenmiller is betting that the US dollar will weaken, and expects a Democratic 'blue wave' this election to be a long-term drag on stocks, Bloomberg reported.



At a virtual conference on Tuesday, the hedge-fund manager said higher taxes and inflation will hurt equities in the coming years.



"We have borrowed so much that I'm skeptical that three to five years out that equities will give us any kind of return," Druckenmiller said at the Robin Hood Investors Conference.



He expects retail investors to put their money in beaten-down stocks in the travel industry, including airlines and cruise lines, in the first quarter, while technology stocks will pare some recent gains.



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Billionaire investor Stanley Druckenmiller is said to be shorting the US dollar, and he believes a Democratic sweep in the upcoming election could hurt stocks in the long-term, a Bloomberg report said."We have borrowed so much that I'm skeptical that three to five years out that equities will give us any kind of return," Bloomberg reported Druckenmiller saying at the virtual Robin Hood Investors Conference on Tuesday.He said the prospect of higher taxes and inflation will weaken equities in the coming years.Druckenmiller, whose net worth is around $5.8 billion, told some conference attendees that he was shorting the US dollar, as US Treasuries have seen record amounts of overseas selling in the past few months, Bloomberg said, citing sources.
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