High-net-worth investors favor Donald Trump as the candidate who would be most beneficial to their pocketbooks, according to a survey by Spectrem Group’s Millionaire Corner. Nearly a quarter of respondents said Trump would be the most beneficial, followed by 22 percent for Hillary Clinton, 14 percent for John Kasich and 13 percent for Bernie Sanders. Only 3 percent believe Ben Carson would have been the most beneficial. But if you look at respondents’ preferences by political party, Democratic investors were much more bullish on Hillary, with 61 percent of Democrats indicating she would be better for them financially. That compares to 34 percent of Republican respondents favoring Trump. Donald managed to get about a quarter of independent investors to prefer him as a candidate.
Today in “why doesn’t that exist already?” news, the first exchange traded fund dedicated to video game technology launched on the New York Stock Exchange under the apply-named ticker GAMR. The ETF tracks 36 companies around the globe that are either software developers, publishers or distributors of games, interactive training and simulations; producers of accessories and peripherals; or large conglomerates who active support the industry. Some example companies are Activision Blizzard (which produces the Destiny, Call of Duty and World of Warcraft franchises), Logitech (which makes gaming headsets and other accessories) and Nintendo. The fund was created in a partnership with PureFunds, ISE ETF Ventures and EE Fund Management. EE’s president Ted Pollak said there is a large demand for companies to develop new technology, the peripheral industry enjoys large repeat sales, and the modes of gameplay are always changing. “All this adds up to a dynamic and evolving industry landscape with multiple paths for potential future growth,” he said.
While more than half of Americans expect to receive an income tax refund this year, there is little consensus on what they will do with it. According to a Bankrate survey, 31 percent said they plan on saving it or investing it, while 28 percent will use it to pay down debt. Another 27 percent said they'll spend their refund on necessities such as food or utility bills, while only 6 percent said they'd splurge on a vacation or shopping spree, double the number that said the same thing last year, according to the survey. Forty-one percent of millennials and 51 percent of retirees both said they were planning on saving or investing their tax refund.
The news yesterday that Goldman Sachs was buying Austin-based FinTech startup Honest Dollar crowned CEO William Hurley the unofficial “winner” of Austin’s South by Southwest digital and music festival, currently underway. Sporting an Amish-style beard and going by the name “Whurley,” he has become something of royalty in the FinTech scene in Austin, according to Austin Inno. He’s hosting a number of panels at this year’s SXSW and is also the entrepreneur who brought President Obama to town for a Democratic fundraiser at Austin’s Music Hall, appearing alongside Will.i.am. Hurley raised a mere $3 million for Honest Dollar before signing on drive-sharing firm Lyft as a customer, and founded an earlier firm that was acquired by Accenture.