Let me just be clear, because even liberal media outlets are clinging to this absurd “false equivalence” narrative: there is no “false equivalence” if what we’re talking about is owning slaves.
“There are so many sides you can’t count all the sides.”
“Sometimes protest is needed in order to heel.”
“Over the longer term, however, there is a limit to how far this conditioning can decouple asset prices from fundamentals.”
What comes next?
“…that makes it harder for fund managers to avoid selling securities if volatility jumps from record lows and redemptions increase.”
“It may not be optimal to own the most diversified portfolio you can possibly own, because anti-diversifying decisions might, in fact, be worth it. But it is exactly that thought process that must become part of our code as investors. It’s OK to turn down a free lunch, but you’d damn well better know that what you’re going to spend your money on is better.”
Tick, tock.
Tick, tock goes the clock.
“And what exactly is he going to attack in the White House? The thin veneer of sanity that Chief of Staff John F. Kelly attempted to create by doing the managing equivalent of stapling Trump under the wallpaper and pretending not to see the lump?”
Bannon can talk about “going to war” for Trump against Congress and the “globalist” elements in the White House all he wants, but the bottom line is that Steve already went to war – and he lost.
Today was Bannon’s last day in the Trump administration and on Friday evening we learn that it was also his first day back at the old barnyard.
“As summer comes to an end, and investment committees meet in early September, I don’t see how at the margin, America doesn’t get a downgrade from asset allocators throughout the world. The simple fact is that the much hyped Trump optimism has been sorely misplaced.”
ICAHN SAYS HE CEASED TO ACT AS SPECIAL ADVISOR TO THE PRESIDENT
“You know what? It’s fine.”
“We are grateful for his service and wish him the best.”
“… the last 7 months show that regardless of what the White House staff intends for President Donald Trump, he’s only a tweet or impromptu press conference away from wrecking those plans.”
“…suddenly being close to Trump is looking more offered than a night out with me.”
Let’s all pray Steve keeps his shirt on…
“In the light of the recent geopolitical and domestic tensions, the market is taking a closer look at the Trump trade. This is reflected in pricing in a higher probability of a short-term risk off trade.”
WTI CRUDE RISES AS MUCH AS 84 CENTS TO INTRADAY HIGH OF $47.93
