A Clinton supporter makes a case for why she'll be good for business
If Hillary Clinton wins the election, her policies would remove uncertainty for companies and investors, Clinton supporter Glenn Hutchins told CNBC on Thursday.
Business leaders and financial markets hate uncertainty, and GOP nominee Donald Trump's candidacy has just piled it on, said Hutchins, who served as an advisor to Bill Clinton but is not working for the Hillary Clinton campaign. "I think she would be better for business than Trump."
"This is a very uncertain moment that we don't need to throw more problems on," Hutchins said, citing a maturing U.S. expansion, fully valued asset prices and the possibility of a Federal Reserve rate hike.
"There is far more uncertainty if you have a Trump election because you would have a big concern on the part of the international markets about America's stance towards the world," particularly for emerging market holders of U.S. debt, said Hutchins, co-founder of technology investment powerhouse Silver Lake Partners and currently chairman of North Island, the holding company for his personal investments.
"[Trump] is very hawkish on the Fed, which means that you would expect to see over time more tightening. And that's bad for markets if it happens abruptly," Hutchins said. He said a Trump victory would be like "America's Brexit," referring to the initial market turmoil created by Britain voting to leave the European Union.
Correction: This story was revised with Hutchins correcting his comment about the effect of a Trump victory on holders of debt.