Good Tuesday morning. SPOTTED: MICHAEL FLYNN last night having dinner at Char Bar, the kosher restaurant in Foggy Bottom. Asked what his mood was these days, he replied: “My mood is good. Very good.”
IN PUERTO RICO — “In Puerto Rico, another desperate plea for help: In the aftermath of Hurricane Maria, concerns deepen that the U.S. territory is too much of an afterthought,” by Jacqueline Klimas in San Juan: “Days after Hurricane Maria barreled through here virtually no people are on the streets and the usually bustling tourist area is littered with curled sheets of metal. Lines of cars waiting to fill up on gas are backed up along the highway off-ramps. ‘We haven’t forgotten about you,’ Adm. Paul Zukunft, the commandant of the U.S. Coast Guard, told a gathering on Monday after what the governor has called the ‘biggest catastrophe’ in the U.S. territory’s history.
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“But the political leadership of Puerto Rico worries that the suffering of its 3.5 million U.S. citizens is once again an afterthought in Washington. ‘We don’t have a voice in the Senate unless it’s Marco Rubio,’ Jenniffer Gonzalez-Colon, Puerto Rico’s single nonvoting member of the House of Representatives, said at an emergency operations center here, where POLITICO accompanied visiting dignitaries before touring the Coast Guard’s main base in the region, which suffered extensive damage.” http://politi.co/2fNxKiG
— @realDonaldTrump at 8:45 p.m.: “Texas & Florida are doing great but Puerto Rico, which was already suffering from broken infrastructure & massive debt, is in deep trouble..” … at 8:50 p.m.: “…It’s old electrical grid, which was in terrible shape, was devastated. Much of the Island was destroyed, with billions of dollars….” … at 8:58 p.m.: “…owed to Wall Street and the banks which, sadly, must be dealt with. Food, water and medical are top priorities – and doing well. #FEMA”.
— @marcorubio: “Returning from #PuertoRico now. Tremendous damage. Potential for serious crisis in areas outside of #SanJuan MUST get power crews in ASAP” … @BenSasse: “The crisis for these Americans needs more attention–and more urgency from the executive branch. The potable water problems are substantial.”
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LUTHER STRANGE vs. ROY MOORE — TONIGHT …
— HOLDING NOTHING BACK — STEVE BANNON VS. WASHINGTON, from Alex Isenstadt in Fairhope, Alabama: “In a thundering 20-minute speech Monday night that was partly a rally for insurgent Senate candidate Roy Moore but equally a declaration of war on the Republican Party hierarchy, Bannon made clear that this next act of his political career could make the Republican civil war of recent years look tame.
“‘For Mitch McConnell and Ward Baker and Karl Rove and Steven Law — all the instruments that tried to destroy Judge Moore and his family — your day of reckoning is coming,’ Bannon said, referring to the Republican Senate leader and a trio of prominent GOP strategists backing incumbent Sen. Luther Strange. ‘But more important, for the donors who put up the [campaign] money and the corporatists that put up the money, your day of reckoning is coming, too.’ …
“In his fiery us vs. them rhetoric, Bannon name-checked his enemies, repeatedly going after McConnell. ‘Mitch McConnell and his permanent political class is the most corrupt, incompetent group of individuals in this country!’ Bannon said to loud applause. Perhaps sensitive to the perception that he was rebuking the president, the former White House chief strategist insisted that it was Moore, not Strange, would do the most to back the Trump agenda. ‘We did not come here to defy Donald Trump, we came here to praise and honor him,’ he said.” http://politi.co/2fNNAKe
— THIS ALABAMA experience has not been good for Trump. He got an attorney general he doesn’t much care for in Jeff Sessions, and his candidate — Luther Strange — could lose this primary.
— @FoxNews: “Bannon on anthem protests: They should take a knee…every night & thank God in heaven Donald J. #Trump is President”. http://bit.ly/2ypCjXt
— WSJ’S REBECCA BALLHAUS (@rebeccaballhaus): “In dinner w/conservative groups tonight, Trump yet again went off on Sessions for recusing himself from Russia probe, per source in the room … ‘You could feel it dripping with venom,’ source said. Trump also suggested Sessions was ineffective, told room to tell him to ‘get moving’”.
THE LATEST ON HEALTH CARE … “GOP already eyeing next chance to revive Obamacare repeal,” by Seung Min Kim, Jen Haberkorn and Burgess Everett: “The supposedly hard deadline at the end of the month to repeal Obamacare might not be so hard after all. With their latest attempt to dismantle the health law on track to fail this week, GOP senators are already raising the prospect of going after it again with the same powerful tools that currently let them pass legislation with just 50 votes.
“There is nothing to suggest Obamacare repeal would get any easier in the coming months and doing so may significantly hobble the Republican majority’s other chief legislative priority: tax reform. But facing a floundering repeal push, wrath from the base and a frustrated President Donald Trump, Republicans may have no other choice but to keep pushing to uproot the law.
“‘We’ve got to do both,’ Senate Finance Committee Chairman Orrin Hatch (R-Utah) said of tackling both Obamacare repeal and tax reform next year. ‘They’re complicated by necessity. So I don’t think that takes away the complications. But I think we’re supposed to be able to handle complications.’ Hatch added, however: ‘If it’s used to screw everything up, I’m not for that.’” http://politi.co/2hvIjad
— SEN. LINDSAY GRAHAM AT LAST NIGHT’S CNN DEBATE: “‘We’re going to press on,’ Graham said of his and Cassidy’s repeal bill, which appears all but dead amid firm opposition from three Republican senators. ‘It’s okay to vote. It’s okay to fall short.’” http://politi.co/2xyQuKM
— WHY THIS IS TOUGH: Obamacare repeal isn’t going to get easier. If Republicans include it in the tax reform process, senior aides tell us it could easily sink tax reform, stripping Republicans of another potential legislative achievement going into the 2018 election. HAPPENING THIS AFTERNOON: Senate Republicans will hold their weekly lunch, and will discuss if there’s a path forward on Obamacare repeal. VP Mike Pence will attend.
— WAPO’S PAUL KANE: “The ACA repeal effort was bad news from the start, with little public scrutiny and little chance for success”: http://wapo.st/2hsH2o3
WE HEAR … BUZZ IN THE BIG SIX — Aides are beginning to wonder whether Treasury Secretary Steven Mnuchin and NEC Director Gary Cohn have the proxy of the president when it comes to negotiating tax-reform details. Trump really wants a 15 percent corporate rate, which is very, very difficult.
— @jonathanvswan: “Hill sources have been uneasy about the ‘X factor’ = Trump’s unpredictability & his fixation on what they see as unattainably low corp rate.”
— NYT’s ALAN RAPPEPORT: “In Tax Code Rewrite, Republicans Ask How Low Can They Go” http://nyti.ms/2wifAvX
— WSJ’s RICH RUBIN and SIOBHAN HUGHES: “The GOP Tax Plan: Tough Choices With Limited Room to Maneuver: Republicans will likely struggle to squeeze all their priorities into a deal that allows for $1.5 trillion in tax cuts”: “Republicans face a daunting challenge as their tax plan comes into sharper focus: They are trying to fit more than $5 trillion of tax cuts inside a $1.5 trillion box. … In all, the Republicans’ wish list will likely add up to more than $5 trillion worth of tax cuts over a decade, estimates Kyle Pomerleau of the Tax Foundation. Getting it into a budget blueprint that allows for just $1.5 trillion in cuts over 10 years could require paring back ambitions for rate cuts and curtailing long-cherished breaks. It could also mean resisting calls to use the bill to repeal a whole other set of taxes created as part of the 2010 Affordable Care Act.” http://on.wsj.com/2wTFTIf
KNOWING STEVEN MNUCHIN — “Steven Mnuchin, a Newcomer, Tilts at Washington’s Hardest Target: The Tax Code,” by WSJ’s Rich Rubin and Kate Davidson: http://on.wsj.com/2y2vO0A
****** A message from Morgan Stanley: Five emerging disruptive trends may drive long-term investment opportunities. Read more from Morgan Stanley. ******
JOSH DAWSEY: “Use of personal devices widespread in Trump’s West Wing”: “Frustrated with West Wing aides’ rampant use of personal communications devices for official business, former chief of staff Reince Priebus tried over the summer to stop – or at least limit – the practice. During a July senior staff meeting, Priebus asked aides to store their personal phones in secure lockers in the White House or either leave them at home during the workday, according to people who attended. The administration subsequently installed additional lockers, typically only found outside secure rooms, in the West Wing, as part of an effort to force aides to use their White House accounts for communications.
“But the request was largely ignored, according to six current and former administration officials, advisers and others who correspond with White House. Aides laughed about Priebus’ request, and senior officials — including Priebus — continued to use their personal phones for phone calls, text messages and emails for White House matters. …
“A number of top aides, including Ivanka Trump, the president’s daughter, and Gary Cohn, Trump’s top economic adviser, have also maintained private email accounts where they have occasionally corresponded with other White House officials and Cabinet members. … Former chief strategist Steve Bannon and Priebus have also used personal email accounts to occasionally email about government matters, according to people familiar with their correspondence.” http://politi.co/2hvEzFM
— “House Republican demands details on Trump aides’ use of private email,” by Kyle Cheney and Rachael Bade: “Rep. Trey Gowdy (R-S.C.), chairman of the House oversight committee, along with his Democratic counterpart, Rep. Elijah Cummings of Maryland, called for the Trump White House to disclose by Oct. 9 the names of any top administration officials who use a private email address for government work and to identify any accounts and cell phone numbers that may have been used to transmit encrypted messages.” http://politi.co/2yCZaQf
HAPPENING TODAY — ROGER STONE ON CAPITOL HILL — “Chatting With a Very Relaxed Roger Stone, on the Eve of His House Russia Probe Testimony,” by NYMag’s Olivia Nuzzi: Today “he’ll travel to Capitol Hill … [and] to his 9 a.m. appointment: testifying before the House Intelligence Committee about Russia’s potential influence on the 2016 presidential election (it’s all bulls***, he says). The last time he testified before Congress was in 1973, when, at 19 years-old, he was called before the Senate Watergate Committee. … ‘No, I don’t get nervous. Never,’ he told me in the lobby of the Trump International Hotel in Washington on the eve of his testimony, though at brief intervals his far-off look appeared to betray those words before he snapped back to his entertaining self. … One of Stone’s polite lawyers approached to inform he had to get going to his next appointment — dinner with Tucker Carlson at the Prime Rib.” http://nym.ag/2y5qJ7E
TRUMP’S TUESDAY — Trump will meet with a bipartisan group from the House Ways and Means Committee and receive a briefing on hurricane recovery efforts. Trump will have lunch with Spanish President Mariano Rajoy and hold a joint press conference with Rajoy. This afternoon, Trump leaves for New York where he will participate in a “U.S. Mission greeting,” meet with RNC Chair Ronna McDaniel and attend a fundraiser at Le Cirque. He will return to Washington after the event.
THE BIG PICTURE — “Trump, the indecisive: The president speaks boldly about issues like trade, taxes, immigration, health care and climate change. But what exactly will he do?” by Emily Holden, Andrew Restuccia, Aaron Lorenzo and Ted Hesson: “President Donald Trump has threatened to pull out of NAFTA, the Paris climate agreement and the Iranian nuclear deal — unless he opts to stay. He decided to revoke legal protections for the DREAMers, then urged Congress hours later to enact new ones. And he has repeatedly demanded that lawmakers enact major legislation on health care, tax reform and a $1 trillion infrastructure plan — without making it clear what he wants the final product to look like.
“Of all the factors that have made the president’s first year so turbulent, one of the most important has been Trump himself: Combining quick mood shifts, a rancorous White House staff and his own fuzziness on the details, the self-proclaimed dealmaker has left his options way open on a range of contentious decisions — while inducing whiplash in many of the political insiders, business leaders and even foreign governments with a stake in the outcomes. … ‘Nobody is happy,’ said [one] Republican lobbyist. ‘It’s very likely that at the end of the year, we’ll be left with Obamacare and the same tax code.’” http://politi.co/2xIfvFu
BREAKING THIS MORNING — AP/JERUSALEM: “Palestinian kills 3 Israelis in settlement near Jerusalem”: “Palestinian attacker opened fire early Tuesday at the entrance to a settlement outside Jerusalem, killing three Israeli security men and critically wounding a fourth, Israeli police and medical services said, in one of the deadliest attacks in a two-year spate of violence. Gaza’s Islamic Hamas rulers praised the attack but stopped short of taking responsibility for it. Israeli officials said the attacker was a 37-year-old Palestinian father of four who appeared to have acted alone.” http://bit.ly/2xtcj0F
THE JUICE …
— FIRST IN PLAYBOOK: DARIN MILLER will take over as communications director for the House Freedom Caucus. He is replacing Alyssa Farah, who is going to work for VP Mike Pence as press secretary.
— ELENA SCHNEIDER reports “The National Republican Congressional Committee is naming Joe King, an Ohio-based strategist with close ties to NRCC Chairman Steve Stivers, as a senior adviser to the committee — with the expectation that King will later lead the committee’s independent expenditure unit in the 2018 election, according to a source close to the committee.” http://politi.co/2wTyaKc
OBAMA’S LIFE — “A Piece of Obama’s Post-Presidential Life: Sandwiches and Speeches,” by NYT’s Kate Kelly: “An hour inside Barack Obama’s post-presidential life included boxed sandwiches, scores of money managers and a treatise on health care reform. Those were the main ingredients on Monday when Mr. Obama spoke in Manhattan at a conference on health care sponsored by the brokerage firm Cantor Fitzgerald — at least his ninth paid speech since leaving office.
“Steel-jawed and wearing a dark suit and an American-flag lapel pin, Mr. Obama was reserved in describing the dogfight over health care in Washington, which threatens to derail his signature legislative accomplishment, the Affordable Care Act. During his 25-minute prepared remarks, Mr. Obama’s laugh lines were few, and his swipes at the Trump administration even fewer. Instead, he undertook a professorial review of what the health care law had accomplished, considered its remaining problems, and swept through some potential solutions. …
“The speech was Mr. Obama’s third to a financial crowd in the past month — he also spoke to clients of the money-management firm Northern Trust Corporation and the private-equity firm Carlyle Group — and gave some indication of how he has been navigating the moneymaking opportunities of his newly private life. Since leaving the White House in January, the former president and his wife have reportedly won a $60 million joint book deal, and his speaking fees — including to Cantor — have gone as high as $400,000 per speech. He has also vacationed on an exclusive island and taken up residence in an $8.1 million home.” http://nyti.ms/2wgUo9H
MARK LEIBOVICH in the NYT Magazine: “Before Trump Brought Politics Into Football, He Made Politics Into Football”: “About two years ago, I began researching a book about the precarious entertainment dynasty of the National Football League, a project that happened to coincide with Trump’s bull rush on the White House. Midway through both, it became clear that Trump had seized on many of the formulas that the N.F.L. has followed to great effect. Trump and the N.F.L. have thrived in recent years by fashioning politics and sports, respectively, as a kind of real-life reality show. ‘You could hire every producer in Hollywood,’ Jerry Jones told me recently, ‘and you couldn’t come up with all the soap operas we have in football during the season and off-season, on the field and off.’ Trump elicits passion pro and con — as, say, the New England Patriots do. The modern N.F.L. might be the American institution whose sensibility best predicted Donald Trump.” http://nyti.ms/2xxYJa1
— “Cowboys, Cardinals lock arms for national anthem in show of unity,” by ESPN’s Todd Archer and Josh Weinfuss in Glendale, Ariz.: “As the Cardinals were introduced, Cowboys owner and general manager Jerry Jones, and executive vice presidents Stephen Jones, Charlotte Anderson and Jerry Jones Jr., stood locked arm in arm with Dallas’ players, coaches and staff. Before a giant American flag was unfurled that covered almost the entire field, the Cowboys — including Jerry Jones — took a knee briefly as a group. This took place before the national anthem, and led to a smattering of boos from the crowd in Arizona that included a large number of Dallas fans.” http://es.pn/2wQIUOq
TRUMP INC. — “In Ivanka’s China, business ties shrouded in secrecy,” by AP’s Erika Kinetz in Shanghai: “It is no secret that the bulk of Ivanka Trump’s merchandise comes from China. But just which Chinese companies manufacture and export her handbags, shoes and clothes is more secret than ever, an Associated Press investigation has found.
“In the months since she took her White House role, public information about the companies importing Ivanka Trump goods to the U.S. has become harder to find. Information that once routinely appeared in private trade tracking data has vanished, leaving the identities of companies involved in 90 percent of shipments unknown. Even less is known about her manufacturers. Trump’s brand, which is still owned by the first daughter and presidential adviser, declined to disclose the information.” http://bit.ly/2wRgpQH
ANNIE KARNI SCOOP — THE OPPOSITION — “Reines quits consulting firm to protest Trump full time”: “Hillary Clinton’s longtime gatekeeper Philippe Reines is no longer just a freelancing critic of the Trump administration: he has quit his day job to devote himself full-time to excoriating the president and his top aides. Reines left the consulting firm he co-founded four years ago, Beacon Strategies, on Sept. 5 — one week before the release of Clinton’s campaign memoir, ‘What Happened’ — to turn full-time ‘resistance,’ a word he says he hates. ‘It’s stand in front of the tank time,’ Reines, who worked as a top Clinton adviser in the Senate and then the State Department, said in an interview about his decision to leave his firm.” http://politi.co/2fnWk9A
AP — “Zinke: One-third of Interior employees not loyal to Trump,” by Matt Daly: “Interior Secretary Ryan Zinke said Monday that nearly one-third of employees at his department are not loyal to him and President Donald Trump, adding that he is working to change the department’s regulatory culture to be more business friendly. Zinke, a former Navy SEAL, said he knew when he took over the 70,000-employee department in March that, ‘I got 30 percent of the crew that’s not loyal to the flag.’ In a speech to an oil industry group, Zinke compared Interior to a pirate ship that captures ‘a prized ship at sea and only the captain and the first mate row over’ to finish the mission.” http://bit.ly/2foBTJE
****** A message from Morgan Stanley: It’s hard to think of an industry that won’t be touched in some way by technological disruption over the next decade. Morgan Stanley Investment Management’s Growth Team shares the big ideas and emerging trends that may have far-reaching implications for economies, industries, social behavior—and investors. Read more. ******
MEDIAWATCH — “NBC’s Megyn Kelly experiment unveils its latest creation, a morning-show Bride of Frankenstein,” by WaPo’s Hank Stuever: “‘Megyn Kelly Today’ is meant to be the final, dazzling piece of Kelly’s multimillion-dollar transmogrification from steely Fox News host to a mushy, hugs-for-everybody, midmorning TV host. It premiered Monday on NBC in the 9 a.m. hour of the ‘Today’ show … The debut was like watching a network try to assemble its own Bride of Frankenstein, using parts of Ellen DeGeneres, Kelly Ripa and whatever else it can find.
“The resultant lovely creature, dressed in a mauve, pussy-bow blouse and skintight pants, moved stiffly and waved her arms around in broad gestures in a bizarre attempt to generate excitement from an audience that was already standing and cheering as duly instructed. She interviewed people nervously and so awkwardly that they were cowed into giving monosyllabic answers. She also never missed an opportunity to talk about herself.” http://wapo.st/2hvVRGJ
— “‘Fox & Friends’: Behind-the-scenes of ‘the most powerful TV show in America’,” by Business Insider’s Amanda McKelvey: http://read.bi/2xCtnAy
— WSJ MEMO FROM PAUL BECKETT: “I am delighted to announce that Michael R. Gordon — a byline that needs no introduction in D.C. — will be joining the Washington bureau’s national security team, starting in mid-November. Michael was national security correspondent for the New York Times, where he worked for three decades, covering the Pentagon and military affairs. … I’m also pleased to announce that Julie Bykowicz will be joining the Washington bureau to cover money and politics at the beginning of October. Julie has been covering campaign finance for years, most recently for The Associated Press, and she’s one the most respected experts in this arena.”
— PER MORNING MEDIA’S MICHAEL CALDERONE: “I’ve heard Pulitzer Prize-winning journalist Eric Lichtblau has recently had talks with The Journal, though it’s still unclear whether he’ll land at the paper. Lichtblau, a veteran of the New York Times and Los Angeles Times, joined CNN in April. He left the network in June along with two other high-profile two journalists following a retracted article.”
— NBC NEWS takes a victory lap, running this ad in the New York Times and other places, touting their ratings http://politi.co/2fuPsL9
LATE NIGHT BEST — KATY TUR on “The Daily Show” http://on.cc.com/2xw5lWj
SPOTTED: at the Landmark E Street Cinema last night for the Washington premiere of “Human Flow,” a new documentary from Ai Weiwei about the global refugee crisis: Lantos Commission co-chair Rep. Randy Hultgren (R-Ill.), Rep. Ted Lieu (D-Calif.), Ai Weiwei and WaPo’s Ishaan Tharoor. Trailer http://bit.ly/2yEhzfK
SPOTTED backstage at Katy Perry’s Verizon Center show last night: Sens. Kamala Harris (D-Calif.) and Cory Booker (D-N.J.) and RIAA CEO Cary Sherman … Senate Majority Leader Mitch McConnell (R-Ky.) on the 2 p.m. Delta shuttle from New York to DCA, seated in the second row of economy “Comfort Plus.” Sen. Jon Tester (D-Mont.) moved seats to be next to McConnell. Rep. Carolyn Maloney (D-N.Y.) was across the aisle.
— Pool report: “Hundreds flocked to the Wilmington Country Club [Monday] for the Beau Biden Foundation’s big fall fundraiser, with many participating in the sold out golf and tennis tournaments. Vice President Joe Biden and President Barack Obama were both there to celebrate Beau Biden’s commitment to child protection and the work the Foundation does to ensure his dream of a world free from child abuse becomes a reality.” Todd Webster, former chief of staff to Sen. Chris Coons (D-Del.) and now with Cornerstone Government Advisors, “aced his first Hole in One on a 168 yard hole with a 6 iron,” per a tipster. Video: http://bit.ly/2k0GlDc
WELCOME TO THE WORLD — Greg Smith, a lobbyist at AIPAC, and Janna Weinstein Smith, an AIPAC and AJC alum, welcomed Lonie Emilia Smith, Sunday morning at Sibley, on her exact due date. “All 3 Smiths are happy, healthy, and enjoying every second of the greatest adventure they could imagine.” Pic http://bit.ly/2xyAica
TRANSITION — Anatole Jenkins has joined the DCCC as the deputy national field director. He was the Minnesota organizing director for HFA and has run programs in Nevada, North Carolina and LA.
BIRTHDAY OF THE DAY: WaPo’s Dave Weigel is 36. How he’s celebrating: “Dinner at Nobu with my girlfriend. She made the reservation — if it were up to me, I’d remember sometime on September 25 that oh, yeah, it would be good to eat the next day.” Read his Playbook Plus Q&A: http://politi.co/2xGSWRq
BIRTHDAYS: Doug Sosnik … Risa Heller … former Arizona Gov. Jan Brewer is 73 … Elizabeth Arzt … Julia Slingsby, deputy comms director for Speaker Paul Ryan (R-Wis.) … Rep. Beto O’Rourke (D-Tex.) is 45 (hat tip: John Meza) … Politico’s Thomas Clark and Casey Miles … Jessica Bakeman … Alexis Barranca … former Rep. Frank Guinta (R-NH) is 47 … Bill Scher is 45 … Jordan Cohen, NYT’s director of comms … WaPo’s Kathleen Parker … photographer Stephen Voss is 39 … Washingtonian’s Ben Freed … Sam Myers Sr., a 40-year veteran of presidential event strategy, current senior adviser to DNC Chairman Tom Perez and six time granddad, is 67 (h/t Sam Jr.) … Missy Edwards, president of Missy Edwards Strategies … Jon Rosborough … Evan Hollander, comms director for Rep. Betty McCollum (D-Minn.), is 25 (h/ts Eli Yokley and Lauren Weber) … Goli Ameri … former N.J. Gov. Christie Todd Whitman … Tom Gannon, VP of public policy at Mastercard …
… Jen Chung, co-founder of Gothamist.com … Parag Mehta … Stacy England … Mark Isakowitz, Sen. Portman’s chief of staff … Greg Lorjuste, who works on scheduling and strategic planning for the Obama personal office … Erin Cunningham … Monique Moss … David Mansouri, EVP at SCORE … Roy Hodson … Bloomberg’s Henry Seltzer … Mackenzie Smith, a Gavin Newsom alum … Alexander Howe … Sarah Crawford Stewart … David Sanders … Sam Drzymala … Matt McKillip … John Fitzpatrick … Bob Nash … Eric Stepney … Bob Nash … Dayne Cutrell is 3-0 … Ian Rose … Andrew Goldston … Steve Janack … John Law … John Norris, the pride of Red Oak, Iowa … Ken Trautmann (h/ts Teresa Vilmain)
****** A message from Morgan Stanley: Interested in the long-term investment opportunities that might arise from disruption? Morgan Stanley Investment Management Disruptive Change Researcher Stan Delaney shares five emerging trends that investors should watch over the next decade. “Disruptive change is so pervasive that our team looks at all of our investments through a disruptive lens,” says DeLaney “Our disruptive analysis effort is really about supporting the Growth Team’s strategy of long-term investing, finding companies with a sustainable competitive advantage, and making sure that we aren’t holding companies that could be left behind.” These trends—spanning autonomous driving, machine learning, augmented reality and more—could have far-reaching implications for economies, industries and social behavior. Read more. ******
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