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"This post-election logic was not crazy, but it overlooked the rather consequential question of presidential competence."
Ouch.
"It failed to anticipate that Trump would squander political capital by picking a national security adviser who needed to be fired; by firing an FBI chief who did not need to be fired; and by blabbing about the whole business to Russia’s foreign minister. It failed to anticipate that Trump would disdain the detailed work of legislating; or that he would assemble the thinnest economic team in memory."
Berkowitz certainly seemed to be banking on Steven Mnuchin to help advance his stake in Fannie/Freddie. That bet appeared to be paying-off (finally) in the weeks after Trump's election, but has since come crashing down.
Some money managers are adding "understanding politics and DC" as another factor in their process, along with say fundamentals, technicals, etc.
Comments
"This post-election logic was not crazy, but it overlooked the rather consequential question of presidential competence."
Ouch.
"It failed to anticipate that Trump would squander political capital by picking a national security adviser who needed to be fired; by firing an FBI chief who did not need to be fired; and by blabbing about the whole business to Russia’s foreign minister. It failed to anticipate that Trump would disdain the detailed work of legislating; or that he would assemble the thinnest economic team in memory."
Berkowitz certainly seemed to be banking on Steven Mnuchin to help advance his stake in Fannie/Freddie. That bet appeared to be paying-off (finally) in the weeks after Trump's election, but has since come crashing down.
Some money managers are adding "understanding politics and DC" as another factor in their process, along with say fundamentals, technicals, etc.
oh, great, just what we need
gonna start a headline fund, HEDRX