Market strategist Tom Lee thinks investors trying to read the Donald Trump tea leaves should focus on one word: deregulation.
As Wall Street busies itself with if and when the president delivers on his promised tax cuts, Lee said Trump's efforts to loosen rules that govern business will create better opportunities.
"I don't think anybody is going to make money trying to look at tax opportunities," the managing partner and head of research at Fundstrat Global Advisors said Wednesday at the Yahoo Finance All Markets Summit in New York. "Deregulation is your biggest lever to pull."
As an example, he pointed out that added regulatory burden has cost the financial sector $55 billion over the past eight years, while four regulations alone have cost the tech sector another $30 billion.
During his campaign, Trump promised to roll back regulations, and he already has delivered. He has declared what amounts to a moratorium on new measures.