Excerpt from Politico article, How Trump’s travel ban undermines a key US export: Higher education:
The loss of international students will hurt the bottom lines of colleges and universities. David Kotok, the chairman and chief investment officer of Cumberland Advisors, which manages $3 billion of fixed income and equity accounts, expressed his concerns around the decision.
“We are seeing the deterioration of a great American export. The U.S. is squandering a competitive advantage. And the buyer comes here to make the purchase and pays cash. We don’t have to ship a higher education anywhere. And school by school by school, we see a shrinking population of foreign students applying and coming to the U.S.,” Kotok told Yahoo Finance.
Continue reading David’s comments here: Yahoo Finance