{"id":102371,"date":"2020-11-01T05:03:10","date_gmt":"2020-11-01T02:03:10","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/dont-trust-banking-behemoths-2020-election-predictions\/"},"modified":"2020-11-01T05:03:10","modified_gmt":"2020-11-01T02:03:10","slug":"dont-trust-banking-behemoths-2020-election-predictions","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/dont-trust-banking-behemoths-2020-election-predictions\/","title":{"rendered":"#Don\u2019t trust banking behemoths\u2019 2020 election predictions"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2910a6692a3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2910a6692a3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/dont-trust-banking-behemoths-2020-election-predictions\/#Bezos_buying_CNN_We_dont_%E2%80%98C_it\" >Bezos buying CNN? We don\u2019t \u2018C\u2019 it<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Don\u2019t trust banking behemoths\u2019 2020 election predictions<\/strong>&#8221;<\/p>\n<div>\n                        With Joe Biden up in the polls, pre-election positions should be easy. Load up the truck on shares of any company that can benefit from his embrace of the Green New Deal, like solar-panel companies. Sell Treasuries because Biden\u2019s spending plan looks like President Trump\u2019s \u2014 only on steroids.<\/p>\n<p>Also, buy stocks. If you think Trump was good for the markets over the past four years, Biden\u2019s planned $2 trillion spending spree as he gets into office will turbocharge markets like never before, the Wall Street experts say.<\/p>\n<p>And yet look closely, and solar-company stocks have risen over the past year but they aren\u2019t shooting to the moon. Yields on Treasury bonds aren\u2019t spiking wildly. And the stock market <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be in a panic.<\/p>\n<p>There are a couple of reasons for this. Some traders say investors are finally pricing in all those new taxes Biden is planning, or that Biden\u2019s poll numbers in battleground states are shakier than the consensus indicates. Or maybe Trump will come close enough to contest the election, sending stocks into a tizzy of uncertainty for weeks after Election Day.<\/p>\n<p>The confusion of the smart-money crowd tells us something about Wall Street. The geniuses who run the big banks and financial firms and too often dominate economic commentary have never been that smart, and probably shouldn\u2019t be trusted to either predict the election or how good (or bad) things will get whoever is elected.<\/p>\n<p>One reason I know this: The behind-the-scenes confusion I\u2019m witnessing among major traders. Wall Street cares a lot about the presidential election and not just because it impacts their tax bills. They trade on the impact the likely winner will have on stocks, which is exactly what they\u2019re doing now, feverishly, as we get close to Tuesday.<\/p>\n<p>Several top players in the business over the past few days have called me, of all people, for a read on the presidential polls because they\u2019re trading blindly on this one.<\/p>\n<figure id=\"attachment_16546294\" class=\"wp-caption alignnone aligncenter\"><img class=\" size-nypost-large-desktop-uncropped wp-image-16546294 lazyload\" alt=\"wall street stock\" width=\"662\" height=\"441\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/10\/walll-st.jpg?quality=90&amp;strip=all&amp;w=300 300w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/10\/walll-st.jpg?quality=90&amp;strip=all&amp;w=640 640w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/10\/walll-st.jpg?quality=90&amp;strip=all&amp;w=1280 1280w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/10\/walll-st.jpg?quality=90&amp;strip=all&amp;w=662 662w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/10\/walll-st.jpg?quality=90&amp;strip=all&amp;w=1324 1324w\" data-sizes=\"(max-width: 640px) 100vw, 662px\"\/><figcaption class=\"wp-caption-text\"><span class=\"credit\">Getty Images\/iStockphoto<\/span><\/figcaption><\/figure>\n<p>\u201cMy clients are mostly split,\u201d said one adviser to major hedge funds. \u201cAbout 60 percent of them think it\u2019s Biden\u2019s to lose, but the rest say they\u2019re betting on Trump.\u201d<\/p>\n<p>The other reason to always suspect Wall Street wisdom is its lousy track record. Moody Investors Service recently made some <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> predicting that a Biden victory would be great for the economy.<\/p>\n<p>Forget about his tax increases, new regulations, likely fracking bans, or having a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a>ist like AOC giving Biden tips on the economy. The smart dudes at Moody\u2019s said Biden\u2019s big spending plans would cancel any negative impact of his tax hikes.<\/p>\n<p>But since when is a government-controlled economy more efficient than the one we have now, where pre-COVID unemployment was at record low levels, and working-class people started seeing wage increases for the first time in years?<\/p>\n<p>Another question: When was the last time Moody\u2019s gave investors fair warning to any major financial event? The 2008 banking crisis? Nope. The dot-com bubble bursting in 2000? Nope.<\/p>\n<p>Go back in history and you\u2019ll see that for every one Moody\u2019s gets right, they get a lot more wrong.<\/p>\n<p>I don\u2019t want to pick on Moody\u2019s because it\u2019s an easy target. The mighty Wall Street firm Goldman Sachs (another Biden-economy booster) is less obvious but just as qualified for an award. Recall: Its former CEO touted the end of the 2008 financial crisis before it \u00adreally began, leading to Goldman needing a government bailout to survive.<\/p>\n<p>The point is when you see left-leaning TV pundits praising Moody\u2019s for its Biden analysis, remember it\u2019s mostly devoid of context. And based on its record (and settlements totaling almost $7 billion for its role in the 1MDB scandal), Goldman should probably stick to banking and stop making predictions that can sway a presidential election.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bezos_buying_CNN_We_dont_%E2%80%98C_it\"><\/span><strong>Bezos buying CNN? We don\u2019t \u2018C\u2019 it<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Last week, Wall Street media bankers were buzzing about CNN, but it had nothing to do with something Chris Cuomo did or said. The talk in banking circles was that Amazon founder and CEO Jeff Bezos \u2014 the world\u2019s richest man \u2014 wanted to buy CNN from its parent company, AT&amp;T.<\/p>\n<p>AT&amp;T is struggling with debt and an odd cultural fit with the news channel; it\u2019s run by some pretty conservative dudes in Dallas. So the deal made sense. Bezos has the money to buy how many billions CNN would cost, and he has a nascent media empire since he also owns, personally, The Washington Post.<\/p>\n<p>If old media is your hobby, why wouldn\u2019t a collector like Bezos just add to his collection?<\/p>\n<p>When I broke the deal-speculation story, some of the biggest cheers came from my friends at CNN, who can\u2019t stand the stodgy white dudes they have to call boss. That\u2019s particularly true now that the network\u2019s chief, Jeff Zucker, could soon be leaving (his future there, as described by a friend of his, is \u201c50-50\u201d) and CNN is facing cost cutting from the bean counters in Texas, which might mean layoffs.<\/p>\n<p>Sorry to disappoint you, guys. While the deal makes sense on paper, a person close to Bezos tells me he has no interest, at least not yet. Maybe he\u2019s waiting for a new president to approve the purchase, since the current one hates him so much. (Trump refers to him as \u201cJeff Bozo\u201d for WaPo\u2019s negative coverage of the administration.) Or maybe Bezos wants to add a few more dollars to his estimated net worth of $187 billion before making his move.<\/p>\n<p>Bottom line, CNNers: Those stodgy white dudes in Dallas will be your boss for some time.\n            <\/p><\/div>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener noreferrer\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2020\/10\/31\/dont-trust-banking-behemoths-2020-election-predictions\/\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Don\u2019t trust banking behemoths\u2019 2020 election predictions&#8221; With Joe Biden up in the polls, pre-election positions should be easy. Load up the truck on shares of any company that can benefit from his embrace of the Green New Deal, like solar-panel companies. Sell Treasuries because Biden\u2019s spending plan looks like President Trump\u2019s \u2014 only on&#8230;<\/p>\n","protected":false},"author":1,"featured_media":102372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/10\/biden-trump-1.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[77885,70327,70445,4941,71631,991,70360],"class_list":["post-102371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-10-31-20","tag-2020-presidential-election","tag-cnn","tag-donald-trump","tag-jeff-bezos","tag-joe-biden","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/102371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=102371"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/102371\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/102372"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=102371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=102371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=102371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}