Bloomberg: Jim Chanos Says Markets Hope Pence Replaces Trump as President

The National Herald Archive

FILE - Honoree and Jewish Museum of Greece President Makis Matsas, Jim Chanos (Center Left)), honoree Vice President Joe Biden, and Oxi Day Foundation Founder and President Andy Manatos. Photo: Oxi Day Foundaton

NEW YORK - Greek-American short seller Jim Chanos lambasted a "dysfunctional" Trump administration, saying the markets hope that Vice President Michael Pence becomes president, Bloomberg reports.

Chanos is the founder of Kynikos Associates, a $3 billion New York hedgefund that specializes in short-selling.

He has supported Democratic candidates and said investors want a "more stable" person who can enact the Republican agenda.

“At the end of the day, the markets are looking for tax cuts and lower regulation,” Chanos told the media at the SkyBridge Alternatives Conference in Las Vegas. “As I joke to my Republican friends, it’s great to have lower taxes on capital gains and income, but unfortunately, under Republican presidents you have no income.”

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