If there’s one thing I’ve learned from our creatives, it’s that negativity in any form doesn’t belong in my vernacular.
Don’t get me wrong – I’m not one of those people who kicks themselves after someone has offered insult and only thinks about the witty response after it’s too late. I am well practiced – the sarcasm and repartee very much drips off my lips. I suppose at another time I would have considered myself a master.
I will always admit to being amused by wry observations of the human condition. I find it interesting that when I offer those observations on personal social media accounts, those that I have the most respect for don’t respond. And most of those are millennial. Rob, oldest son and our social media expert, is my harshest critic. And when I go off on one my rants, as Rob calls them, he will sit politely and then ask if I’m done.
Lest you think I am trying to fit some Pollyanna mold, let me assure you that I have the same visceral reaction that many of you do to events globally, locally and personally. But now I am more likely to hold my opinion, watch and learn.
The election of “The Donald” is a case in point.
Had I bought into the “Armageddon” rhetoric post-election I might have well missed out on any number of opportunities. Equally important, watching President-elect Trump’s use of social media to impale leading US multi-nationals is instructive.
Investment, particularly fixed business investment as economists like to call it, is predicated on a long view. Part of that view is informed by assumptions of the stability of both the regulatory regime and immutability of the laws of the land.
So too is the rapid acquiescence of the business elite to the sudden turn in direction of their elected government notwithstanding the fact that they were such vociferous critics and opponents prior to President-elect Trump’s election.
Bond rating agencies, when seeing changing circumstances, will put their subjects on credit watch. All the short-term rhetoric aside, with the changing political landscape in the US I’ve put US markets on my professional “credit watch”.
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This information has been prepared by David Chellew, Portfolio Manager for Industrial Alliance Securities Inc. (IAS) and does not necessarily reflect the opinion of IAS. For more information about IAS, please consult the official website at www.iasecurities.ca. David Chellew can open accounts only in the provinces where he is registered.