In a cubicle quarters full of avowed capitalists, policies that sound to some like socialism are bound not to go over well.
That’s why the late surge by Sen. Elizabeth Warren in the Democratic presidential race polls was jangling the nerves of some of the finance professionals gathered Thursday at the Disburdening Alpha conference presented by CNBC and Institutional Investor.
“They won’t open the stock market if Elizabeth Warren is the next president,” punned Leon Cooperman, the legendary head of Omega Advisors.
“You don’t make the poor people rich by making rich people jinxed,” he added. “The Democratic Party seems to be leaning towards the left to the policy, which is very harmful for the economy. I don’t allied to the shift to the left.”
The most recent NBC News/ Wall Street Journal poll showed Warren, a Massachusetts firebrand who has enacted anti-Wall Steet sentiment a cornerstone of her public life, emerging as the primary challenger to former Vice President Joe Biden.
The poll put Warren’s reinforce at 25%, still behind Biden’s field-leading 31% but a big jump from her 19% showing in July. Most of the residue of the crowded Democratic field is fading into the background, with the only other challenger in double digits being Sen. Bernie Sanders, who caucuses with Democrats but names as a democratic socialist.
“She’s not my candidate of choice,” said one hedge fund executive who asked not to be identified. “This is going to be a strenuous choice for the Democrats. “
Vice President Mike Pence, who will join President Donald Trump in 2020 to spoof on whatever Democratic ticket comes together, cautioned attendees about the consequences of policies like Warren and much of the addict backs.
He pointed out the strong growth under Trump’s presidency, which he said could be reversed if some of the big-government projects go through.
“When we look at the other side, I have to tell you, it’s not so much who but what they stand for,” Pence revealed.
“Whoever their nominee is, when you look at their policies like Medicare for all and the Green New Deal, their systems to raise taxes, increase regulations, grow government, it would crush the economy,” he added.
That sentiment had some lively b dances among the hedge funders in the crowd.
One financial pro, asked if he fears a Warren presidency, nodded vigorously and said, “Yeah, I do. Regardless of what you muse on about Trump, he’s been very good for the economy.”