A friend, former investment adviser and avid market watcher DT (with the creative handle “ThE DeN oF EQUiTY”) reminded me that…well I’d rather use his own words:

The market has a sense of humour. An “It’s not nice to fool Mother Nature” moment! Sure, go ahead and boast about what the market’s done since you were elected…poetic.

He is getting his wish though: near zero interest rates and “money, money, money” as far as the eye can see.

On Monday March 23rd the Dow briefly touched the same level where it closed on November 8th, 2016 – the day Trump beat out Hillary in the election.  As DT hinted in his note, since then Trump has been claiming  personal credit for the subsequent bull market.

My own guess is that he’ll distance himself from the market and economic malaise currently underway, and should we beat coronavirus take full credit for that accomplishment.  He is the definitive “piece of work.”

Dow since 2016 election

About the Author

Malvin Spooner is a veteran money manager, former CEO of award-winning investment fund management boutique he founded. He authored A Maverick Investor's Guidebook which blends his experience touring across the heartland in the United States with valuable investing tips and stories. He has been quoted and published for many years in business journals, newspapers and has been featured on many television programs over his career. An avid motorcycle enthusiast, and known across Canada as a part-time musician performing rock ‘n’ roll for charity, Mal is known for his candour and non-traditional (‘maverick’) thinking when discussing financial markets. His previous book published by Insomniac Press — Resources Rock: How to Invest in the Next Global Boom in Natural Resources which he authored with Pamela Clark — predicted the resources boom back in early 2004.

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