Well yes but this isn't some widget maker. Macquarie is still priced for growth and they need lots of market activity of one type or another, specifically deals. Trump's tariff bluster is slowing the rate at which deals are likely to eventuate and he's even influencing deal flow in some deals that might arise in Macquarie's sweet spot
Li KaShing for example is looking to sell their significant international ports business in response to Trump's comments about Chinese control over the Panama Canal. This would be a prime candidate for a Macquarie infrastructure fund but it's going directly to a US syndicate headed by BlackRock.
Do you really believe cost cutting is likely to revive the Macquarie share price?
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