Since the surprise Trump election last fall, we have had a few months to digest and reflect on the new world we are in. While our first instinct was to buy any dip after the announcement, clearly most agreed with us, and the market has appreciated significantly since then. Very quickly expectations for reduced regulations (financial, energy, etc.), rate hikes, lower taxes, and fiscal stimulus were discounted by the market.
This week, we chat with Danesh Rohinton, our global financials analyst. As Steve mentioned in his March 30 blog (“Around the world in search of the best companies”), a number of Cambridge team members have been travelling the world recently. As the title of Steve’s blog indicates, many team members were on due diligence trips, meeting management teams and doing site visits in search of solid companies and evaluating the risk/reward opportunity sets they present.