Leopards Ate My Face

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Citadel CEO Ken Griffin donated over $108 million to the GOP in 2024. Now he warns Trump’s Tariffs Are Tarnishing the ‘American Brand’. (observer.com)

submitted 1 week ago by BoycottPro@lemm.ee to c/leopardsatemyface@lemmy.world

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The article says:

Ken Griffin says Trump’s tariff strategy is eroding America’s global standing and investor trust in U.S. financial stability.

We already knew this was going to happen. On June 26, 2024 Reuters released an article with the headline "16 Nobel Prize-winning economists say Trump policies will fuel inflation". Trump campaigned on tariffs.

In my view this really undermines the creditably of Ken Griffin because an investor should be able to accurately asses information and determine its credibility to make proper investing decisions. Someone who falls for Fox "News" drivel wouldn't be a good investor. This is why Warren Buffet is outperforming other investors now, he properly prepared himself for Trump's tariffs.

Source for donation amount: https://www.opensecrets.org/elections-overview/biggest-donors

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[–] jonne@infosec.pub 8 points 1 week ago* (last edited 1 week ago)

I don't believe they're that worried about it. A lot of people made a lot of money buying up 'distressed' assets after the GFC with the cheap credit available. If you're wealthy enough, you make money when things are going well, and you buy up anything that's on the market when there's a downturn (preferably with subsidies/cheap credit provided by the government).

If you don't need to have the income from a job to live off, the business cycle doesn't really affect you, it's all play money where you can be on any side of a trade.