Billionaire Investor Who Called Trump's 2016 Win Makes His 2020 Prediction

Posted: Aug 13, 2020 7:30 AM
Billionaire Investor Who Called Trump's 2016 Win Makes His 2020 Prediction

Source: AP Photo/File

Billionaire investor Jeffrey Gundlach, who accurately predicted that Donald Trump would win the 2016 election, gave his thoughts on the upcoming election during a webcast for his firm DoubleLine Capital.

While polls show Joe Biden ahead of Trump by approximately 7.5 points, according to RealClearPolitics’s average of national polls, Gundlach isn’t convinced. 

"My base case is actually that Donald Trump will win re-election," Gundlach said. "I think polls are very, very squishy right now because of the highly toxic political environment in which we live."

Part of the problem is self-censorship. Gundlach explained he’s seen data showing roughly "two-thirds of conservatives or moderate conservatives say that they have lied about their support for Donald Trump either directly or by omission."

A recent Cato survey found 62 percent of Americans don’t say things they believe in the political climate at the moment. While the concerns cross party lines, Republicans were most likely to say “they have political opinions they are afraid to share.”

Gundlach said to expect “a lot of twists and turns” between now and Election Day.  

As for Biden's pick of Kamala Harris as his running mate, he said he didn't believe it was a "good" choice. “She might be a little bit dominant with her personality.”

While he was correct about the 2016 election, last year he told FOX Business there was “no way” Biden would secure the Democratic nomination as he was a “placeholder type of candidate.”

“I’ve been asking people, ‘Do you know anybody that really supports Joe Biden?’ and I haven’t met a single person that says they know anybody that truly supports Joe Biden,” Gundlach said in September.