Business News

Weiss: Here's your investment setup for the week ahead

NYSE New York Stock Exchange traders markets
Getty Images

Hope can be contagious; it can be immediate; and it can be powerful, engulfing even the most dour into its optimistic embrace. It was an inescapable observation as I viewed the images on CNBC of market strategists, of economists, even the occasional Fed member. The rollback of Dodd-Frank easing margin pressure on investments banks, preserving their jobs and speaking fees was a distant second to something much more important. "It is a new dawn," I imagined they each were likely thinking, the vaguest hint of a smile betraying the glee they were endeavoring so hard to mask, "thank heaven for the pollsters. They make my calls look like prophecies!" Now, if only active managers could translate how President-elect Trump was able to beat big data into how they could conquer algos, no Wall Streeter would be left behind. Alas, perhaps it is not the pollsters that should be the most castigated but rather the bookmakers in London. As one of our European fund managers pointed out, a £5 million trifecta wager on Leicester City to win the Premier League, Brexit and Trump would have returned £15 million.