Legg Mason's Bourbeau: No tax reform would be 'big fail' for US large caps

Failure to pass tax reform could hit US large caps

Mike Sheen
19 October 2017

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Managing director and portfolio manager of Legg Mason's $840m ClearBridge US Large Cap Growth fund Peter Bourbeau has warned the biggest US stocks could suffer significant fallout if President Donald Trump fails to pass significant tax reforms, which have already been partially "priced-in to the market".

Bourbeau, who manages the fund alongside Margaret Vitrano, said any overhaul would be positive for the largest firms, but is sceptical "comprehensive" reform will pass. ETF Snapshot: US large caps attract...

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