Bloomberg News reports that the paper windfall is based on figures in a regulatory filing late Wednesday showing how many shares the executives held the day after the vote, when Trump’s victory in the U.S. presidential race sent the stock soaring. Their holdings are predominantly long-term, as demonstrated by the bank’s periodic updates -- rather than a bet on the election’s outcome.
The filing underscores the huge profits in store for Wall Street executives if investors are right about the effects of Trump’s policies. His election sent shares of the biggest U.S. banks climbing on speculation he’ll dismantle regulation and boost long-term interest rates with inflationary spending, potentially burnishing profits for lenders.
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