U.S. stocks are headed higher, although a 10per cent correction is"long overdue", Anthony Scaramucci, founder and co-managing partner of Skybridge Capital, said on Wednesday.
FILE PHOTO: Former White House communications director Anthony Scaramucci is pictured following a preview for the off-Broadway show 'Trump Family Special' in New York City, New York, U.S., August 22, 2018. REUTERS/Carlo Allegri/File PhotoREUTERS: U.S. stocks are headed higher, although a 10per cent correction is"long overdue", Anthony Scaramucci, founder and co-managing partner of Skybridge Capital, said on Wednesday.
Scaramucci, who served as U.S. President Donald Trump's communications director for less than two weeks in 2017, also told the Reuters Global Markets Forum that former New York City Mayor Michael Bloomberg is the most likely candidate to defeat Trump in the 2020 presidential election.Below are excerpts from the interview, conducted on the sidelines of the World Economic Forum's annual meeting in Davos, Switzerland:A - Somewhat fair.
But we haven’t had a 10per cent correction in 29 months, so it’s likely that we could have one. long overdue.This is not 1999, but it could be 2003 where an economic slowdown creates multiple compression. The historical models have been disrupted by modern monetary theory. They are still going to be accurate, just delayed.A - In the last three months, we’ve been shifting more into macro strategies and picked up a bit of long bias.
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