It takes a foreign investor to cheer up the doom-laden Americans
A t the junk bond king Michael Milken's annual jamboree in Beverly Hills this week, the mood among billionaires and chief executives is sombre.
In ballrooms at the Beverly Hilton, asset managers, bankers and investors listening to doyens of Wall Street give their take on the investment climate heard Henry Kravis, co-founder of KKR, warn how the uncertainty caused by trade policy was causing investors to sit on their hands.
In a conference interview, Marc Rowan, chief executive of Apollo Global Management, said: 'We have done damage to the US brand — the brand for stability, predictability, regularity. I see us moving from what was hyper-exceptionalism to merely exceptional.'
The most optimistic chief executives are hoping that US leadership in technological advances around AI and quantum
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