At the World Economic Forum in Davos, Switzerland, George Soros wasn’t optimistic about the current state of affairs, according to a recent Bloomberg article.

According to the article, the chairman of Soros Fund Management referred to Trump as a “con man” who will “fail because his ideas are contradictory and his White House advisers and cabinet members will fight with each other.” Soros added that the stock market rally in the wake of Trump’s policy promises will end because “uncertainty is at a peak, and actually uncertainty is the enemy of long-term investment.”

Soros also shared his view that the European Union is “disintegrating”, questioned the tenure of U.K. Prime Minister Theresa May, and argued that “China is poised to become an even more repressive society.”

However, the article points out that Soros’ pessimism has been costly, as evidenced by the S&P 500’s post-election surge, and his outlook on China “has yet to prove accurate.”