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How Wall Street got Donald Trump wrong

Titans of finance and business are beginning to realise they misread the president’s second-term priorities

In mid-February, some of Wall Street’s most powerful investors and business titans — controlling hundreds of billions in personal wealth and trillions in assets — lined up like teenagers before a rock concert.

The headliner was Donald Trump. In a cramped Miami Beach auditorium, plutocrats and CEOs waited up to three hours for the president’s first in-person address to the business world at a Saudi-backed conference.

The crowd, which included Vista Equity’s Robert Smith, Bridgewater CEO Nir Bar Dea and Apollo co-founder Josh Harris, roared when the US president finally strode onstage, an hour late.

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