After Successful Trump Trade, Global Allocation Fund Eyes Italian Banks

While some stock analysts around the world were assuming the worst on the evening of November 8, fund managers Luis Bononato and Carl Icahn had similar thoughts. Going against consensus, both believed the election of Donald Trump would be a market positive. The analysis paid off for Bonoanato, head of the Global Allocation Fund, who now is looking at Italian and European banks with an eye for a bargain amid an uncertain European electoral future.

Icahn and Bononato like to buy on a drawdown

Perhaps one of the more memorable hedge fund trading stories to come out of the surprise election eve win by Donald Trump might have occurred when...