"Davos Man" and his investing ideas look like they're falling out of favor, and "Joe Six-pack" is taking over.
Bank of America Merrill Lynch strategists have used those hypothetical investors to represent trends that have accelerated with the "Trump trade." They pit the "every man," everyday investor, Joe Six-pack, and his domestically focused Main Street agenda against the global investing themes of Wall Street, personified by "Davos Man."
"Conventional wisdom has flipped from Davos Man to Joe Six-pack," they wrote. BofA said investors are moving away from the globalization type of trades of "Davos Man," who is named for the annual international confab in Davos, Switzerland, where corporate and political movers and shakers go to see and be seen. The World Economic Forum's annual meeting begins next week.