Different Makes a Difference

“Structural differences” is a commonly used phrase to help explain underperformance, and the rationale usually sounds reasonable. However, it is worth approaching “structural difference” arguments with a hint of skepticism. Such defences can be an excuse by underperforming management to protect their jobs, which can leave a company and its shareholders mired in mediocrity.

What will the stock market do if Trump is President? That’s a good and fair question. Unfortunately, it’s a tough question to answer.