Economics
Stock Gurus No Better Than Pollsters in Figuring Out Trump
- Rather than plunge, American equities stage an epic turnaround
- ‘I didn’t want to see a decline of 10%,’ Zitzewitz says
How Did Investors Hedge Ahead of the Election?
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So far, forecasts of the equity market’s unraveling are looking about as accurate as the polls before Donald Trump’s presidential win.
While stocks buckled and plunged as ballots were being counted, they’ve since bounced back sharply and are behaving nothing like what was predicted in nightmare scenarios that flew around Wall Street in the weeks before the vote. Rather than tumble 10 percent as was forecast by everyone from Barclays Plc to the Brookings Institution, the S&P 500 Index won’t stop rallying.