Wall Street’s Warnings on Warren Turn Into Bet by One Hedge Fund

For weeks now, some of Wall Street’s biggest names — Paul Tudor Jones, Steve Cohen, Leon Cooperman — have been arguing that an Elizabeth Warren presidency would sink U.S. financial markets.

Those were just idle forecasts, though. No one said they were doing anything differently as a result. Until now. Scott Bessent, the Soros Fund Management alum who runs a $4.5 billion macro hedge fund named Key Square Capital Management, is shorting the dollar in a bid to monetize the market reaction he anticipates.

“Intelligent people can argue whether Senator Warren’s numerous programs will be good or bad for American society, but they are unequivocally negative for U.S. asset prices,” Bessent wrote in a Nov. 14 letter to investors.

Here's why.