The Big Question Part II: Is President Donald Trump a market menace - or a welcome disruptor?

Second instalment of series

Jayna Rana
clock • 11 min read

In the second part of our Big Question, portfolio managers assess how President Donald Trump's policies can be factored into investment decision-making.

Mark Leach, portfolio manager, James Hambro & Partners Volatile leader Initially, from a short-term investment perspective, Trump's tax reforms have had a positive impact on earnings, while deregulation and budgetary largesse have helped companies prosper further.  The average earnings growth of the S&P 500 in the latest reporting round was 24% compared with Europe's 10% and Japan's 11%, illustrating not just the effect of reduced corporate taxes but also better underlying activity; companies outpaced analyst expectations by 6% on average in Q1.  From a domestic point of view, the...

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