Shark Tank star Mark Cuban recently appeared on CNBC’s Fast Money Halftime Report saying that he’d got shot of most of his stock – including Twitter – as he loads up on cash to guard against potential stock market falls. This comes as the market nears its longest ever bull run, but Cuban’s concerns relate to rising debt and a lack of trust in the Trump administration, of which he has been a long-standing critic. Of course, he hasn’t had a complete sell-off, with Amazon, Netflix and “maybe four dividend-owning stocks” still in his portfolio. He also admitted that a ready surplus of cash is handy in case something comes along, but he joins the ranks of major investors who are increasingly hedging against potential falls. Perhaps this is only natural, given that the market is on a near-10-year streak at the moment, but there haven’t really been any signs that things are slowing down just yet.
Mark Cuban: Profile
Mark Cuban is a prominent investor and owner of the Dallas Mavericks. He has also shown an interest in baseball teams, including the LA Dodgers back in 2012, and his love of sport is further demonstrated in the title of his book: How to Win at the Sport of Business. He has been a long-time investor in start-ups, most notably on the hit ABC show Shark Tank. He has been an outspoken opponent to the Trump administration for several years, and endorsed Hillary Clinton in a rally in his hometown, Pittsburgh, in the run-up to the 2016 elections. He has made several comments about a potential run for the presidency himself, but this has never amounted to any more than soundbites in interviews, the last of which indicated that he would run as a Republican rather than a Democrat, given the chance.