Michael Novogratz’s Ditched Trading Plan Shows Shock Speed of Trump Win
- Traders from New York to Tokyo waited, drank and pounced
- Surprisingly quick Trump win sent stocks and the dollar higher
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Wall Street billionaire Michael Novogratz sprawled out on his bed with two phones and a pair of laptops as the election maps began to fill in blue and red Tuesday night. At his side was a bottle of Jack Daniel’s, another of Champagne and a pint of lemon sherbet.
“Trading like a banshee,” Novogratz said of his plans for the evening. He was expecting to work long into the night, as one state after another was called and financial markets fluttered in response.