Displaying items by tag: democrats

Wednesday, 04 December 2019 10:35

Biden Gets a Big Boost

(Washington)

Joe Biden’s bid for the presidency has already been an interesting one. His campaign launched with a lot of attention and support and then faded for awhile, only to hold surprisingly steady since. He doesn’t get as much focus as Warren and Buttigieg, but he has a sustained following. Now it looks like he might jump ahead in the polls. Biden has had decent support from the African-American community and with Kamala Harris ending her campaign, he is likely to get her substantial following behind his own bid.


FINSUM: Harris was carrying about 3.7% support among Democrats. Most of that will likely go to Biden, helping his chances.

Published in Politics
Monday, 18 November 2019 13:34

Trump May Testify in Impeachment Probe

(Washington)

In any interesting twist, President Trump has announced that he may personally testify in his impeachment probe. Trump has indicated he is interested in the idea of being able to set the record straight himself. He says “Even though I did nothing wrong, and don’t like giving credibility to this No Due Process Hoax, I like the idea & will, in order to get Congress focused again, strongly consider it!”. Trump’s comments came at the urging of House speaker Nancy Pelosi’s request for him to testify. The president could testify via writing or in-person.


FINSUM: We doubt this will happen (Trump’s lawyers would probably be remiss in letting him testify in person), but it is an interesting turn. Imagine the media frenzy!

Published in Politics
Friday, 15 November 2019 09:54

Warren’s Tax Plan is Increasingly Untenable

(Washington)

Whether or not you are a supporter of Elizabeth Warren and her aggressive tax plans, one has to worry about the recent arithmetic that is coming out of her campaign. In particular, what is emerging is that many wealthy Americans would have tax rates over 100%. In many cases they would be as high as 158%. The reason why is a combination of the tax rates Warren favors, but critically, also her goal to tax unrealized gains. That means taxes would need to be paid in cash on investments that have not realized cash gains.


FINSUM: In our view, this is little more than divisive and punitive, not to mention rife with bad logic that will create unintended consequences. We are not in principle against the idea of some moderate level of redistribution to help strengthen the country and economy, but this is highly unfair.

Published in Wealth Management

(Washington)

It has an air of inevitability now that it has happened. President Trump has requested the Supreme Court to block a subpoena that is seeking to obtain his tax returns. The effort is coming from New York, which previously scored a victory in New York courts. Trump’s argument, which he is seeking the Supreme Court to affirm, is that a sitting president is immune from all stages of prosecution. “If the president were prosecuted, the steward of all the people would be hijacked from his duties by an official of few (or none) of them … We are hopeful that the Supreme Court will grant review in this significant constitutional case and reverse the dangerous and damaging decision of the appeals court”, says an attorney for Trump.


FINSUM: Two angles occur here—either Trump does have something to hide, or he is an incredibly sharp political strategist. Consider the scenario of Trump battling to block the release, him ultimately losing, and then prosecutors finding nothing suspicious in his returns. Nothing would prove his witch hunt argument more strongly. It would be a brilliant strategy.

Published in Politics
Wednesday, 06 November 2019 13:03

Buy These Stocks Regardless of Who Wins the Election

(Washington)

There is a currently a great deal of anxiety over the election. It is not just political either—a Democrat or Republican win would create drastically different economic environments, which will lead to very different returns. One prominent hedge fund manager commented on the whole situation, saying “I think we all wish that we could kind of go back to thinking about investing without political risks”. Despite this longing, it is clear that we will not go back to that era anytime soon. Accordingly, check out these stocks, which should thrive no matter if Trump or a far-left Democrat wins the bid. Healthcare and tech look like big risks, but interestingly, large oil companies may be a good bet. If Warren wins and bans fracking, oil prices are likely to rise, helping large integrated oil companies. Another approach is to focus on stocks that will benefit from government plans that are already happening, such as those related to state infrastructure spending, legalized sports gambling, and shipping fuel standards.


FINSUM: We are still a year out from the election, but it is certainly worth thinking about how to position the portfolio, as polls leading up to the big day will move markets a lot.

Published in Eq: Value
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