Legendary short seller Jim Chanos lambasted a "dysfunctional" Trump administration, saying the markets hope that Vice President Michael Pence becomes president.
Chanos, who has supported Democratic candidates, said investors want a "more stable" person who can enact the Republican agenda.
President Donald Trump has been embroiled in an escalating scandal over his firing of former FBI director James Comey and allegations that he attempted to thwart a FBI probe of his former National Security Adviser Michael Flynn.
Chanos said he has made most of his big money on the short side under Republican presidents going back to Ronald Reagan.
"Markets and economies tend to do pretty well under Democratic administrations," said Chanos, founder of Kynikos Associates.
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