Why Stock Returns Under Trump Might Disappoint Investors

Erik Kobayashi-Solomon

May 5, 2017

The stock market climbed after the US presidential election, and the big market indices set successive new highs. Trump’s Treasury Secretary Steven Mnuchin proclaimed that the index gains represented the markets giving the new administration’s proposals positive marks on its economic “report card.” But research by Chicago Booth’s Lubos Pastor and Pietro Veronesi suggests that …

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