Thursday in Davos, Switzerland, at the the World Economic Forum speaking with Bloomberg’s Francine Lacqua, Soros Fund Management Chairman George Soros said President-elect Donald Trump is “an imposter and con man and would-be dictator.”

Soros said, “I’ve described him as an imposter and con man and would-be dictator, but he is only a would-be dictator. The Constitution and institutions of the United States are strong enough, the division of power is in operation. He would be a dictator if he could get away with it. But he won’t be able to.”

Discussing the markets, he added, “It is impossible to predict exactly how Trump is going to act because he hasn’t actually thought it through. He didn’t expect to win. He was surprised. He was engaged in building his brand and improving it by his success in attracting crowds. It is really only when he got elected that he started seriously to think about what he is going to do. I personally am convinced that he is going to fail, not because of people like me who would like him to fail, but because the ideas that guide him are inherently self-contradictory. And the contradictions are actually already embodied by his advisors.”

“He has got three chiefs of staff instead of one, and in his cabinet,” he continued. “Therefore we will have the various establishments fighting with each other and that is going to cause very unpredictable outcomes. Right now uncertainty is at its peak. And actually, uncertainty is the enemy of long-term investment. I don’t think the markets are going to do very well. Right now they are still celebrating. But when reality comes, it will prevail.”

(h/t Grabien)

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