By treating partisan gerrymandering as a non-justiciable political question, the Court guaranteed a decade of map litigation with no end in sight.
The Editorial Board argues that the 2019 Rucho decision — that partisan gerrymandering claims are non-justiciable — has produced exactly the litigation chaos its critics predicted. State courts now decide the maps, and state courts apply different standards in different cycles.
Map uncertainty translates directly into legislative-policy uncertainty in any state with a competitive delegation. For investors, that means the policy environment for Energy, Pharma and Financials remains hard to forecast through the next two cycles. We continue to favor positions that work across regulatory regimes (large-cap quality, free cash flow, dividend coverage).
A 15-minute review — an update on positioning.
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