New York - Billionaire investor George Soros said the euphoria among stock
investors since the victory of President-elect Donald Trump will end as
uncertainty takes over.
"Uncertainty is at a peak and actually uncertainty is the enemy of
long-term investment," Soros, the chairman of Soros Fund Management,
said on Bloomberg Television from Davos on Thursday.
"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."
Soros lost nearly $1 billion as a result of the stock-market rally spurred
by Trump’s surprise win in November, the Wall Street Journal reported earlier
this month.
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.