CNBC: Mark Cuban Owns Just a Handful of Stocks and A Whole Lot of Cash Because He is Worried about the Market
Article by Matthew J. Belvedere on CNBC Financial
Billionaire entrepreneur Mark Cuban told CNBC on Monday that he's holding much more cash than he normally does because he's concerned about the stock market and U.S debt levels.
"I'm down to maybe four dividend-owning stocks. I've got a whole lot of cash on the sidelines," Cuban said on "Fast Money Halftime Report."
Cuban refused to reveal his short positions, the stocks that he's betting against. "I'll keep that to myself."
"Put aside tariffs, put aside what the president is doing, he's got his reasons," said Cuban. "There just no way where you can say, 'I just trust everything that's going on.' And that concerns me."
"We borrowed from the future to kind of pump up the current market," said Cuban, owner of the NBA's Dallas Mavericks. Running up the national debt is just as bad as the Federal Reserve continuing historically low interest rates much longer than needed after the 2008 financial crisis, he contended.
"If I get a feeling that [economic] growth will continue at 4-plus percent and the debt will come down, then I'll get back into the market," said Cuban.