worldpokerdeals| Griffin, the world's largest hedge fund brother, commented: Biden's economic policies are inconsistent again

Source: financial Union

Castle Investments, the most profitable hedge fund in the world, on Tuesday, local time.WorldpokerdealsCEO Ken Griffin attended the Qatar Economic Forum and commented on hot issues such as the Biden administration's latest economic policy and whether it will donate political donations to Trump.

According to LCH's hedge fund rankings, Castle continued to earn $8.1 billion for investors in 2023 and a total of $74 billion for clients since its inception in 1990. After surpassing the Bridge Water Fund as "the most profitable hedge fund on the planet" in 2022, Castle Investment retained this title in 2023. With Dalio retiring, Griffin now has a solid position as the number one hedge fund.

An incoherent economic policy

As a financial hot spot on Tuesday, the Biden government announced an increase in import duties on a range of Chinese imports, including tariffs on Chinese-made electric vehicles, which will rise to 100% from the current 25%.

For this behavior, Griffin said bluntly during the Qatar Economic Forum on Tuesday that it was another incoherent manifestation of the economic policies of the Biden administration.

"over the past few years, we have seen the US government vigorously promote the transformation of clean energy, while the Biden administration has launched a series of policies that run counter to the zero-carbon goal," Griffin said. Imposing huge tariffs on low-cost, high-quality electric cars from China that are of great value to US consumers is another incoherent part of Biden's economic policy. "

Griffin also said that another incoherent part of Biden's economic policy was the refusal to issue LNG permits and the need to switch to natural gas to reduce coal emissions, but the Biden administration refused to approve new LNG projects for the foreseeable future.

Do you support Trump? Wait a minute.

According to the political donation research website OpenSecrets, Griffin, a big financier of the Republican Party, has donated $60 million in the 2024 election cycle and is the second largest individual donor in the current election cycle. However, most of the money was donated to lawmakers who took part in the re-election of the Senate and House of Representatives, as well as Nikki Haley, who has withdrawn from the Republican primary, but not to Trump.

Griffin praised Trump on Tuesday on the question of whether he would support Trump this year, but stressed that whether he would donate to Trump depends on his choice of vice presidential running mate.

Trump has previously hinted that he may extend the selection of vice presidential candidates and may not finalize a partner until close to the Republican National Convention on July 15.

But Griffin also acknowledged that neither Biden nor Trump is likely to reduce federal spending in the United States, which is a key obstacle to reducing inflation in the United States.

Will it expand into the Middle East?

Griffin did not say directly about the plan to enter the Middle East, but he mentioned a blind spot in the financial talent policy of Middle Eastern countries: a lack of appeal to the level of analysts and assistants. Tax policies in the Middle East may help attract some investment managers, but ignore analysts who do their day-to-day work.

Griffin says one of the reasons for the success of Castle's investment is close cooperation within the company. Getting investment managers in the "low tax zone" to videoconference with a team of analysts as far away as London is not a successful solution. So if Castle Investment wants to come to the Middle East, it will consider a complete human resources plan.

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