This is disturbing. Since the surprise victory of Donald Trump, who of course ran as a populist, the best performing stock in the Dow is Goldman Sachs—the everyman New York investment bank. In the words of Matt Taibbi, Goldman is a “vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.” Let’s hope the recent price action in Goldman shares isn’t an indicator of the bank’s influence in Washington over the next four years.
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Jeremy Jones, CFA is the Director of Research at Young Research & Publishing Inc., and the Chief Investment Officer at Richard C. Young & Co., Ltd. Jeremy is a contributing editor of youngresearch.com.