Shark Tank star Kevin O’Leary sparked a heated reaction from CNN hosts after claiming that Kamala Harris was not democratically nominated.
During a passionate roundtable discussion on Thursday, the investor, who has a net worth of $400 million, drew a parallel between stock picking and the Democratic presidential candidate selection process.
In stock picking, fund managers are paid millions to pick stocks they believe will be successful. But despite their lofty reputation, they mostly earn lower returns than those who simply put money into a fund that tracks the stock market.
By his analogy, O’Leary compared these money managers to the small group of top Democratic leaders who anointed Harris. At the same time, the broader stock market symbolized the millions of ordinary Democrats across the country who would normally select the candidate through primaries.
“In stock picking, 88 percent of managers can’t beat the S&P 500 year over year,” O’Leary said. ‘So you give them $1,000 and the S&P beats them. They cannot choose actions.
“This is the second time the Democratic Party has circumvented democracy and elected (a presidential candidate),” he said.
The investor, who is estimated to have a net worth of around $400 million, made a comparison between stock picking and the Democratic presidential candidate’s pick during a CNN panel discussion on Thursday.
The businessman made the analogy during a discussion at Harris’ CNN town hall, which took place the night before in Pennsylvania.
O’Leary said: ‘Just 90 days ago, Pelosi went to Biden and told him “you have to step aside” and convinced him to do so.
“He made the decision and actually asked her, and now we’ve learned this: ‘Is she the right person to bring this home?'” He questioned that.
‘He could have said we needed to run a process for me to make this move, but they decided not to. I don’t know who “they” are. Was it Obama? Was it Pelosi? “I don’t care who it was,” he continued.
Harris accepted the Democratic presidential nomination in August, becoming the first woman of color to become a major party’s presidential candidate.
‘On behalf of Americans like the people I grew up with, people who work hard, follow their dreams and care for each other, on behalf of everyone whose history could only be written in the greatest nation on Earth, I accept your nomination. for President of the United States of America,” Harris said at the time.
O’Leary said this was the “second time the Democratic Party has shirked democracy,” stating that Hillary Clinton’s nomination in 2016 was the first time.
This sparked a heated debate between the investor and the other panelists.
CNN anchor Abby Phillip quickly responded, saying, ‘I know you’re from Canada, but the primary process in this country is not in the Constitution.
‘Political parties can choose their candidate however they want. And as long as they meet the legal deadlines in the states where they are on the ballot, they can do it however they want.’
CNN anchor Abby Phillip and Shark Tank star Kevin O’Leary got into a heated debate over the topic.
Shark Tank star Kevin O’Leary shocked CNN hosts by claiming that Kamala Harris was not democratically nominated to be a presidential candidate.
He added that parties can simply elect someone and don’t even have to have a primary.
“It just doesn’t exist,” he said.
O’Leary responded by saying that he “has no interest in the game other than getting a great president.”
But he did add that, although he was born in Canada, his children were born and raised in Boston, and all of his investments are in the United States.
“I want the president, whoever he is, to be a winner,” O’Leary added.
In response to O’Leary’s comments about Clinton’s nomination, Phillip said Clinton won a primary.
“Did Kamala Harris win a primary?” O’Leary said in response.