Hedge fund manager John Paulson, who openly supported Donald Trump’s candidacy and played a role in helping to shape his economic agenda, echoed many in the business community who are optimistic about the coming administration’s policies.
“An administration that supports growth supports everyone,” Paulson told CNBC in an exclusive interview on Thursday night, during the inaugural’s VIP Candlelight Dinner.
Paulson said he increased his firm’s long exposure to stocks following Donald Trump’s win.
“American companies are going to retain more of their after tax income (with Trump’s policies) which is a huge boost to earnings per share and the S&P 500,” Paulson said at the event which was attended by the President-elect, the soon-to-be first family and several prominent politicians including House Speaker Paul Ryan.
“Companies will have more to invest and a better return on that investment. It can be a positive self-fulfilling prophesy,” Paulson said.
Mr. Paulson was one of several prominent business titans at Washington’s Union Station, who came to support the President-elect.
Among the heavy-hitters also in attendance were outspoken Trump supporter and billionaire investor Carl Icahn along with casino magnates Sheldon Adelson and Steve Wynn and NFL owners Daniel Snyder, Robert Kraft, Shad Khan, and Woody Johnson who Mr. Trump has tapped to be the new Ambassador to Great Britain.
Mr. Paulson listed several initiatives he’d like to see passed as quickly as possible, including what he called the “dialing back” of unnecessary regulations, reforming corporate taxes to make US companies more competitive and renegotiating trade agreements.
“Lower taxes, less regulations, less lawsuits, deals that support US manufacturers is all very positive,” Mr. Paulson said.