When Donald Trump announced Friday that hedge fund manager Scott Bessent was his pick for Treasury secretary, there was a massive sigh of relief from the markets, with the yield on the 10-year Treasury falling sharply (a sign that investors think Bessent will help keep inflation cool) and the stock market getting a little bump.

President-elect Donald Trump has referred to his Treasury pick, billionaire hedge fund manager Scott Bessent, as "one of the most brilliant men on Wall Street."

Investors are “appreciative” of Trump’s nomination of the “business-as-usual” Bessent as Treasury secretary, remarked one strategist.

While little has been reported about his wealth, a look at Bessent's winning bets while working in finance offer some insight into how me made his fortune.

Scott Bessent, Donald Trump's pick for Treasury Secretary, is a veteran Wall Street executive who advised Trump during his presidential campaign and has praised his economic agenda of tariffs, lower taxes,

Hedge fund chief Scott Bessent’s Friday nomination to become the US Treasury Secretary is offering bond investors a glimpse into the incoming administration’s sweeping economic agenda after an extended search that included multiple prominent contenders.

President-elect Donald Trump's nominee for U.S. Treasury secretary, Scott Bessent, will prioritize delivering on election tax cut pledges, he told the Wall Street Journal in an interview published on Sunday.

Now is one of the stronger times of the year for stocks. pic.twitter.com/Hh4kA7xx6V — Ryan Detrick, CMT (@RyanDetrick) November 26, 2024 The stock market rallied on Monday as investors reacted positively to President-elect Donald Trump’s nomination of Scott Bessent for Treasury Secretary.

Bessent, the 62-year-old founder of Key Square Group, has repeatedly backed the president-elect’s pro-tariff stance in a series of op-eds and media appearances over the past year.