Guest Post: Trump In Wonderland

“They are incapable of creating a deception when they need it – the conceptual difference between a deception and a lie seems to elude them — so they lie instead, and when they are called on a lie, they lie more and blame facts, which further undermines their credibility until there is none left. As a result, after less than a month in office, Trump had to declare war on facts and pronounce the press the enemy of the people.”

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“We’re Approaching A Margin Call” – The “Trump Put,” Volatility, & One Analyst’s Masterpiece

“When expressed in options language, the Trump put has the same decomposition as the Bernanke put during the QE period. Effectively, this is a supply of equity vol to the market financed by “selling puts” on President’s credibility. However, in contrast with the Fed whose communications with the markets reduced volatility, the new political transparency, as communicated through presidential tweets and political discourse, has been generally volatility increasing.”

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