Regime change
Today's UBS Australasia Conference in Sydney heard an illuminating anecdote about Trump's approach to power, as well as cautious optimism that his return might boost capital markets.
Heavyweight investors, rockstar economists and celebrated CEOs are usually the stars at the annual conferences hosted by investment banks for their clients. But at the UBS Australasia Conference in Sydney on Monday a retired US Navy admiral drew the biggest crowd.
It was standing room only as Michael Rogers — an adviser to various arms of the US intelligence, defence and government apparatus now employed by Joe Hockey’s Bondi Partners — was peppered with questions about what the election of Donald Trump means for the world.
It’s the topic on the mind of all money managers right now as they figure out how to position their portfolios for the return of the former president to the White House. There were plenty of them swarming at the UBS event in Sydney. Regal Funds Management’s Phil King rubbed shoulders with Caledonia’s Will Vicars, and Pendal and Soul Patts were well-represented as the likes of Fortescue, Wesfarmers, Woodside and Megaport delivered presentations that were closed to the media.
In the main ballroom, Rogers offered up an anecdote involving Trump and the 2020 assassination of Iranian major general Qasem Soleimani that was particularly telling.
