Martin Flood, co-manager of the $333m Lazard US Equity Concentrated fund, said he would be "open-minded" on cyclicals like financials and energy if President-Elect Donald Trump follows through on his pre-election rhetoric, but added the economic impacts of his presidency are currently too speculative to position his portfolio around.
Flood said although his bottom-up portfolio of between 20-30 stocks tends to ignore benchmarks, with an average active share of 91.2%, he may reconsider his current 0% positions in financials and the energy...
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In June 2016, immediately before the Brexit referendum, a curious thing happened.