Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Investors take stock of a Trumped-up market


Phil Grodnick, who started in the investment industry in 1958, won’t say who he voted for for president, partly because he’s got clients of all political stripes at his Minneapolis Portfolio Management Group.

Grodnick, 79, a patient, value-oriented investor whose composite stock portfolio has outperformed the S&P 500 benchmark index over the last 20 years, will say he’s glad stock investors, so far, look positively at President-elect Donald Trump.

“The market is responding to what will be the Trump policies that he articulated as best he could during the campaign,” Grodnick said. “Lower taxes, infrastructure spending, reform of the Affordable Care Act, tax reform, repatriation of $2 trillion to $4 trillion in corporate profits from overseas. Growth.


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