Billionaire Clinton supporter: If Democrats take over Congress, the stock market could see more chaos

  • Marc Lasry says a Democratic takeover on Capitol Hill in the midterm elections could lead to a shakeup on Wall Street.
  • "If Congress shifts, you'll have more investigations. You'll have more issues," argues the co-founder of Avenue Capital.
  • Lasry says Donald Trump’s presidency has so far been good for American business interests and growth.

Marc Lasry, a billionaire investor and longtime supporter of Hillary Clinton, told CNBC on Wednesday a Democratic takeover on Capitol Hill in the November midterm elections could lead to a shakeup in the stock market.

"If Congress shifts, you'll have more investigations. You'll have more issues. And from a business standpoint, I think people will then step back," said the co-founder of Avenue Capital, a distressed asset specialist with about $9.6 billion in assets under management.

As an American, Lasry said he likes to see the economy do well. But as a investor, he added he'd "like a little more chaos."

Despite supporting Clinton in the 2016 election, Lasry said Donald Trump’s presidency has so far been good for American business interests and growth.

"Congress today, they seem to be supporting pretty much anything President Trump does," Lasry said on “Squawk Box” from the eighth annual CNBC and Institutional Investor Delivering Alpha conference in New York City. "You could argue it back and forth — but for business, it's good."

The market seems to believe the Trump trade actions against China and Europe won't last too long, Lasry argued.

Since he buys into companies that already have problems, he said he has not walked away from any investment opportunities due to international trade tensions.

In addition to running Avenue Capital as chairman and CEO, Lasry owns a stake in the NBA's Milwaukee Bucks.

Previous Years

  • CNBC and Institutional Investor hosted the 7th Annual Delivering Alpha Conference on September 12, 2017.

  • Delivering Alpha 2017 stage, signage

    Meet the 2017 advisory board of Delivering Alpha, which takes place on September 12, 2017 at The Pierre in New York City.

  • The stage at Delivering Alpha 2016 in New York on Sept. 13, 2016.

    CNBC and Institutional Investor hosted the 6th Annual Delivering Alpha Conference on September 13, 2016.

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