'We’re back to the chaos presidency': Wall Street investors warn of Trump 'turbulence'

Just over 30 days into Donald Trump's second stint in the Oval Office, key investment executives are warning their clients that the recent downturn in stock prices could be a harbinger of things to come.

In interviews with Politico and in statements made to investors, there is growing alarm that the markets are stuffed with over-inflated stocks that could be poised to suffer a collapse, according to a report.

As Politico's Declan Harty wrote, influential JPMorgan Chase CEO Jamie Dimon is among those warning of danger ahead.

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Hedge fund manager Jim Chanos, who is notable for predicting the Enron collapse, is casting a jaundiced eye at the near future with the unpredictable Trump in office, according to the report.

“For good or bad, depending on your politics, we’re back to the chaos presidency,” he said. “Whatever you might think about the Biden administration, if you were a market participant, you generally didn’t need to check your Twitter feed the first thing in the morning when you woke up just to see what was said. But we’re back to that, and with that, comes probably more volatility.”

Rich Bernstein, chief executive officer of Richard Bernstein Advisors, with $16 billion in assets, warned against too much optimism by telling Politico, "Uncertainty is rising, but individual investors are completely certain that they know what the outcome is going to be. That's crazy."

Bernstein also admonished the Trump administration to tread carefully, stating, "It’s not like we’re in an environment where people are bearish and the slightest positive thing will cause a bull market. This is the exact opposite. People are really bulled up, and so they’re going to have to tread much more lightly than they think they are, and they’re going to have to thread a very small needle.”

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