Disclosure (which I feel, given the post’s content, should be reiterated): I am not short even a single equity of any kind. I am only long selected stocks and cash at this time, but surely subject to a change of status in the future.
Why, did you know that in a note to clients Tom Lee wrote that Donald Trump’s term could usher in major bull market akin to those preceded by Ike and Reagan? He did, in a note to clients and the MSM really wants you to know about it! Now, there is a case that eventually his favored areas of Energy, Mining, Basic Materials, etc. will out perform. But that word “eventually” is an important one, unless you are a died in the wool trickle downer willing to ride the big correction or bear market that is likely first.
“Notably, the two longest bull markets in history 1953-1974 and 1982-1999 were preceded by a Republican ‘revolution,’” he wrote.
Lee likened Trump to the Republican presidents in this way; Eisenhower in the early 1950s invested in infrastructure, and Reagan pursued tax cuts and deregulation, Lee wrote, much like what Trump has promised to carry out in his presidency.
A thoughtful Sloper recently bought me a new book called The Rise and Fall of American Growth which you can see on Amazon by clicking here. I’ll save myself some typing and just paste a partial description of the book from the publisher:
In the century after the Civil War, an economic revolution improved the American standard of living in ways previously unimaginable. Electric lighting, indoor plumbing, home appliances, motor vehicles, air travel, air conditioning, and television transformed households and workplaces. With medical advances, life expectancy between 1870 and 1970 grew from forty-five to seventy-two years. Weaving together a vivid narrative, historical anecdotes, and economic analysis, The Rise and Fall of American Growth provides an in-depth account of this momentous era. But has that era of unprecedented growth come to an end?
May I humbly suggestion you consider my own Panic, Prosperity, and Progress. It’s well-reviewed (check out the average 5-star rating on the Amazon page) and has a delightfully quirky cover! Amaze and delight your family and friends with this enjoyable read!
Yesterday on the plane ride from Seattle back to San Francisco, I finished up the Becoming Steve Jobs book which I wrote about about a week ago. The book is even more outstanding than I suspected it would be halfway through it. Late in the book, it mentioned Jobs’ last truly public appearance: this one in front of the Cupertino City Council, getting their approval for their gigantic new headquarters building. According to the book, Jobs was in searing pain by this time of his life, but his presentation shows him at his most personable and human self.
Well, my long weekend in Milwaukee is over, and I’m heading home. I’ve never been to Wisconsin in my life. It’s nice to see a place that (a) actually has real weather (b) doesn’t charge you an arm and a leg for everything. Looking at the real estate ads, it’s just bizarre seeing places being sold for less than they even cost to build. Comparisons to Palo Alto become preposterous. One could buy up an entire neighborhood block of houses for what it costs to get a nice house in my ridiculous burgh.