Noted cross-asset strategist Donald Trump has made a lot of market calls in 2018.
He told you to buy in January, for instance. That worked out great for about three weeks before it crashed and burned in early February in part due to concerns that his Presidential alter ego's pursuit of debt-funded, late-cycle stimulus would lead to an inflation overshoot, but mostly due to the realization of the rebalance risk embedded in inverse and levered VIX ETPs.
Starting in April, he suggested crude should be lower, a call that was again foiled by his alter ego, who decided to reimpose sanctions on Iran, stoking fears of a nuclear arms race in the Middle East. After a couple of strategy sessions, Trump the cross-asset strategist and Trump the President crafted a "stable genius" strategy to manipulate the oil market, which culminated in an outright price collapse last month, vindicating the original short crude call.
As stocks hit new record highs in September, both Trumps took a break from obstructing justice and rigging oil prices to congratulate themselves on new record highs for equities. Recall this implicit "buy" call delivered on September 20:
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