February 2017

A Note from the Team

In recent news, the Dow Jones Industrial Average surpassed the 20,000 landmark, though growth has been hampered by a flurry of executive orders from President Trump. On a shorter-term basis, reality states that there are two "Donalds" from an economic growth perspective.

The good Donald focuses on tax cuts, regulatory cutbacks and infrastructure expenditure - all catalysts to higher economic and corporate profit growth. Then there's the bad Donald. The bad Donald focuses on trade barriers, trade wars and tariffs, all of which are destructive for global and domestic economic growth. We believe we are going to see both Donalds... which one will depend on the day and his focus. Dealing with political change from Washington has been like drinking water from a fire hose, and we do not see that changing any time soon. 

As a final note, we would like to congratulate the New England Patriots and Tom Brady on an historic comeback in a truly incredible Super Bowl. 

More next month…

Commentary

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