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CNBC PRO Talks

UBS strategist Emanuel says Trump to spark a revival in active investing next year

The pro-growth agenda of President-elect Donald Trump will spark a revival in active investing, according to UBS equity and derivatives strategist Julian Emanuel, who shared his 2017 investment playbook with CNBC PRO.

"The change in [market] psychology is very profound ... to us, it's essentially getting away from eight years of worrying about zero interest rates as the guiding principle for alpha generation, for searching for yield and for stock selection, which actually has also led to more passive investment," Emanuel said in the exclusive interview.

In 2017 and beyond, however, a resetting of interest rates along with pro-growth economic policies proposed by Trump should result in investment opportunities for stock pickers.

"The active managers that we speak with who've had their head down for the last several years are for the first time showing smiles on their faces. The game in our view has changed for the medium term," Emanuel said.

In this in-depth conversation with CNBC's Mike Santoli, Emanuel, who has more than two decades of investment experience, also discusses:

  • How to profit from changes in the investment landscape.
  • The likely winners and losers from the rise in interest rates.
  • The best sectors to own in 2017.

PRO subscribers can also read the entire transcript of the exclusive interview below.