Robert Meyer, Chief Investment Officer, Ibis Capital; San Diego
I’m most concerned about tax reform in the U.S. The market has gone up on the tail wind of expectations that tax reform would relax consumers and help corporations, but I’m not sure we’re going to see tax reform in 2017. The market isn’t pricing in a delay in tax reform, and if we get a delay, can we even get it done at all with midterm elections next year? I’m not so sure. If it doesn’t happen, market risk rises . . .