Billionaire entrepreneur Mark Cuban believes a Donald Trump victory in November will be bad for the stock market.
“I can say with 100% certainty that there is a really good chance we could see a huge, huge correction,” Cuban told CNN’s Erin Burnett on Monday evening.
Cuban says Trump’s “flip-flopping” on major issues and unpredictability in general will have major consequences for the United States.
“That uncertainty potentially as the president of the United States, that’s the last thing Wall Street wants to hear,” Cuban said of Trump.
Cuban believes high-speed trading in the market could lead to volatility that crashes the market by more than 20%.
Cuban recently said he would “probably” vote for Hillary Clinton in a match-up against Trump.
“The devil you know is better than the devil you don’t know,” Cuban said. “I can go to Hillary’s websites and there’s spreadsheets, there’s depth, there’s analysis, there’s details.”
By comparison, Trump’s website “lists top line things he would like to do,” Cuban said, “but he doesn’t say how he’s going to get there.”
Cuban is also worried that Trump’s isolationist views are likely to hurt American, noting, “you can’t act as a standalone entity” in today’s “global financial environment.”
When asked how smart Trump is, Cuban said, “Probably not as smart as he thinks he is.”
Cuban also poked fun at Trump’s net worth saying, “at least I’m a billionaire.”
Wall Street could be turned off by any of the remaining candidates. Bernie Sanders wants to break up big banks while Hillary Clinton wants to impost a fee on big banks while raising taxes on investment gains.
Speaking at the SALT hedge fund conference last week, Cuban said Clinton needs a vice presidential candidate “like me who would just throw bombs at Donald.”
“The best way to describe Donald right now — and again, I like the guy — is he’s like the guy who will walk into the bar and say anything” to go home with someone, Cuban said.