In Trump Country, the Stock Bulls Are Freaking Out Their Advisors

There’s no way to know exactly much more active Trump devotees have become. Stock-ownership data collected by the Federal Reserve and Internal Revenue Service don’t zero in that closely. In fact, according to the latest studies and surveys, 46 percent of Americans own no stocks at all, up from 38 percent in 2008, during the financial crisis.

But from what financial advisors in conservative areas are seeing, there is a Trump-minted rush. Clients of Edward Yale’s at Concho Investment Advisors in San Angelo “are now more inclined to invest into riskier assets like the stock market,” he said, and many cite the president.

Todd Neff, for one, has put $400,000 into stocks since Trump’s election. Before, he wasn’t much of an investor, basically topping out his out his 401(k) and dabbling in shares here and there. A sheep breeder and small-business owner in San Angelo, he said he would have “dropped back big time” if Hillary Clinton had won.

Now he sees the market going up 10 percent or more this year, because the president is a businessman, true to his word about rolling back regulations and remaking the tax code. “He’s going to do what’s best for the business, which is best for the country. That means the world to me.”

The glittering rise has been irresistible to Americans of all political stripes, of course. Consumers’ confidence in the stock market soared to a record high in January before fading in February after the market slumped 8.6 percent over a span of eight days. (And markets have begun gyrating again, triggered in part by Trump’s plan to impose steel and aluminum tariffs.)

Among Trump’s fans, though, trust in the firebrand politician as a stock-market bulwark easily endured the selloff, at least in San Angelo. During other routs, Edward Jones’s Freeman said, “I had people wanting to jump out of windows. Not this time.” This time, they kept buying. “I have to temper people,” he said, without much success.

Neff, for one, is unyielding. So strong is his faith, in fact, that he can even get odd looks in the heart of Trump country when he starts talking about how much money he’s investing in stocks — including an additional $30,000 amid the February selloff.

“People look at me like a cow looking at a new gate.” But to Neff, it’s not complicated. “The economy’s doing too good, and all the companies are making money.”