09-24-2020, 07:35 AM
Novogratz on money.cnn.com this afternoon
<!-- SC_OFF --><div class="md"><p>Here's the text:</p> <blockquote> <p>Only six weeks remain before the presidential election. No matter who wins, volatility is here to stay. </p> <p>"I think it's a really dangerous time to be in the market," said Mike Novogratz, CEO of Galaxy Digital Holdings. "Between now and the election, volatility stays high and risk gets taken off." </p> <p>And as investors are taking some bets off the table, it could lead the market lower. In other words, investors should be cautious. </p> <p>"There will be a time to buy stocks again," but that time might not be now, Novogratz said on the CNN Business digital live show <a href="https://www.cnn.com/specials/investing/markets-now"><em>Markets Now</em></a>. </p> <p>The volatility might persist even after the election, at least in the short-term. A Democratic White House could lead to higher taxes, which in turn could lead to a selloff, Novogratz -- who expects a Biden win -- said. Even though Democratic administrations historically outperform Republican ones, there still could be a knee-jerk reaction on Wall Street, he added. </p> <p>But not to worry, there is a hedge against all sorts of risks in the global economy, Novogratz said: "The average investors should have 1-3% of their holdings in Bitcoin, it's an amazing hedge," he said.</p> </blockquote> </div><!-- SC_ON --> Kind Regards R
<!-- SC_OFF --><div class="md"><p>Here's the text:</p> <blockquote> <p>Only six weeks remain before the presidential election. No matter who wins, volatility is here to stay. </p> <p>"I think it's a really dangerous time to be in the market," said Mike Novogratz, CEO of Galaxy Digital Holdings. "Between now and the election, volatility stays high and risk gets taken off." </p> <p>And as investors are taking some bets off the table, it could lead the market lower. In other words, investors should be cautious. </p> <p>"There will be a time to buy stocks again," but that time might not be now, Novogratz said on the CNN Business digital live show <a href="https://www.cnn.com/specials/investing/markets-now"><em>Markets Now</em></a>. </p> <p>The volatility might persist even after the election, at least in the short-term. A Democratic White House could lead to higher taxes, which in turn could lead to a selloff, Novogratz -- who expects a Biden win -- said. Even though Democratic administrations historically outperform Republican ones, there still could be a knee-jerk reaction on Wall Street, he added. </p> <p>But not to worry, there is a hedge against all sorts of risks in the global economy, Novogratz said: "The average investors should have 1-3% of their holdings in Bitcoin, it's an amazing hedge," he said.</p> </blockquote> </div><!-- SC_ON --> Kind Regards R