As Donald Trump’s ballooning scandals sent stocks tumbling Wednesday, hedge fund managers gathered at the Bellagio in Las Vegas for one of the industry’s most popular conferences. First on the day’s agenda: pedaling exercise bikes, visiting a spa and trying a beauty service called GlamSquad. The mood was relaxed.
The SALT conference was founded by Anthony Scaramucci, a fund management executive-turned-Trump booster, and was the first big fundraising stop last year for campaign finance chief Steven Mnuchin, who’s now Treasury secretary. Many attendees this year stand to profit if Trump fulfills his promise to slash taxes and Wall Street regulation.