Wall Street Journal (November 9)
“Donald J. Trump’s unlikely defeat of Hillary Clinton is a political earthquake of a kind that rarely disturbs American politics.” The President-Elect “will now need to pick smart advisers and show generosity in victory” as he “lacks political experience” and his “convictions on public policy are especially elusive.” He has “a chance to succeed if he follows through on his pledge to prioritize the economic growth that creates jobs and lifts incomes for all Americans.” He will need to “govern differently than he campaigned.” He will need to “discover a more optimistic and inclusive politics. Or so we can hope, if only for comity and the good of the country.”
Tags: Advisers, Clinton, Convictions, Earthquake, Experience, Generosity, Growth, Inclusive, Incomes, Jobs, Optimistic, Policy, Trump, U.S., Victory
Institutional Investor (November 8)
Are we approaching “the end of research as we know it?” The portion of fees that goes to research (equity or bonds) is a mystery, but the veil will soon be lifted. On January 3, 2018, the Markets in Financial Instruments Directive II will require “that asset managers break out the costs of research from their own management fees and pay for them separately.” The result will probably be “that less research is spewed.” This could bring “potentially wrenching consequences for the research industry and its core users among active asset managers.”
