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.”