Hot stocks, frozen investors: the despondent Democrat’s guide to Trump and money.
Investors across the country are variously cheering and mourning the election of Donald Trump as U.S. president. In some cases, they’re pressing their financial planners into double duty as therapists. Or grief counselors.
In San Francisco, where Trump won 9 percent of the vote, people seem depressed, said Milo Benningfield, a financial adviser based in the Presidio, next to the Golden Gate Bridge.
“The most common remark I’ve heard is, ‘I feel like somebody died,’ ” he said.
“It does seem like a mourning process,” said Jennifer Hatch, managing partner of Christopher Street Financial, 3,000 miles away in New York. Though the financial planning firm has specialized in the lesbian, gay, bisexual, and transgender community since 1981, even Hatch wasn’t prepared for the emotional challenge of watching her clients struggle with the Election Day shocker.
“Some people are sort of frozen. Some people are just depressed,” she said. “And some people have gone on with their lives—although you really can’t escape the conversation.”