Virtus Capital president sees market selloff if ‘socialist’ is elected


South Bend, Indiana Mayor Pete Buttigieg and Sen. Elizabeth Warren (D-MA) speak during the Democratic Presidential Debate at Tyler Perry Studios November 20, 2019 in Atlanta, Georgia. Ten Democratic presidential hopefuls were chosen from the larger field of candidates to participate in the debate hosted by MSNBC and The Washington Post.

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Steven Gidumal, managing partner of Virtus Capital, said Monday that if Bernie Sanders, Elizabeth Warren or Pete Buttigieg is elected president, the market would sell off between 30% to 50%.

“If a Socialist is Elected, the Market will sell off BIG,” Gidumal said in a slide presentation. “Pick a Socialist – Bernie, Liz, Pete. etc. and…


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