The billionaire investor does not expect a return from the market US equities over the next 3-5 years
Even if Joe Biden wins the upcoming U.S. elections from the Democrats, it will not mean good profits on the stock market. In the next 3 - 5 years it should not be expected, believes famous billionaire investor Stanley Drakenmiller. Now the players are inclined to believe that if the democratic party comes to power, funds will be quickly allocated to support the economy, which will support the growth of securities. However, according to Druckenmiller, even under such a scenario, the stock market should not expect large returns. Over the next few years, tax increases and high inflation will be a deterrent. It is unlikely that the stock market will be able to generate income in the next few years due to large volumes of government debt, the investor believes. He sees the potential in gold and bonds. According to his forecast, in 4 years the value of the former and the yield of the latter will increase. At the same time, the unemployment rate will remain quite high - 7%.