“THE DONALD” is now President Donald, a result he promised would be "Brexit plus plus plus."
He has been proven right as, once again, the pollsters were wrong.
Hillary Clinton’s ‘Love Trumps Hate’ campaign found no favour with the electorate.
Their hatred of established Washington politicos like Clinton outweighed the lack of love for political correctness that was Trump’s campaign.
Like with Brexit, it was by the thinnest of voting margins.
To his credit, the President-elect, a New York billionaire, has convinced the people of the US rust belt and the disillusioned workers of the once powerful mid-American industrial sectors that he is one of them.
For the more affluent too, his promised range of sweeping tax cuts will appeal, although he is yet to address the fact it will increase an already record budget deficit.
It is incredibly difficult to know what the consequences of his victory will be.
He may moderate his positions now he is in the job and has the opportunity to speak to advisers and congress.
The Republican majorities in the Senate and Congress will prove useful tools for passing through policies.
However, it will not be the free-for-all some fear.
Dramatic proposals, such as repealing Obamacare, will have a far-reaching impact, something that will make the Congressmen voting think twice, given they are up for re-election in two years’ time.
The issue is that President Trump will have to behave like a politician.
A ridiculous notion to America’s new ‘businessman’ leader and not what he promised voters having demonstrated a tendency to be resistant to advice, soft-skinned and not one to let things like detail, accuracy or the truth get in the way of a good campaign.
That is where the risk lies as he tries to find a balance.
It will take time for the markets to learn what sort of President Trump will be and how his character will affect investments.
Bar the Mexican stock market and peso, the initial reaction from the US stock market and other major indices was not as gloomy as was expected before the open.
Far from it in fact, as shock was replaced with soaring share prices as investors started to hope Trump’s plans to boost the US economy will succeed.
China is another country he seems intent to antagonise, causing investors to prefer the maintenance of the status quo that a Clinton victory would have provided.
That said, there would have been concerns over Clinton’s foreign policy.
With Russia continuing to flex its muscles with numerous shows of military strength, the relationship with Russia would undoubtedly have been frostier than the one Trump intends to foster.
Interestingly, beyond ensuring a status quo, there was not a lot to get excited about for investors if Clinton had won.
By contrast, Trump as President is considered more positive for business generally.
His desire to be anti-authoritarian could actually result in a pro-business approach to regulations and fiscal stimulus.
It is just a shame it is being put forward by someone who has proven so volatile throughout his campaign.
Yet again we have an unexpected political decision where anger seems to have outdone ‘common sense’.
And, yet again, it causes uncertainty for investors.
However, until Trump’s character and plans are revealed, investors are likely to accept the President and remain hopeful for the prospect of some meaningful fiscal stimulus until we know otherwise.
That means the performance of the stock market should be much more positive than his campaign was.
Jeffrey Ball is a chartered wealth manager at wealth management firm, Brewin Dolphin, in Newcastle.
The opinions expressed in this article are not necessarily the views held throughout Brewin Dolphin. No director, representative or employee of Brewin Dolphin accepts liability for any direct or consequential loss arising from the use of this document or its contents. Any tax allowances or thresholds mentioned are based on personal circumstances and current legislation which is subject to change.
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