We elected real estate mogul and reality TV star, Donald J. Trump, to the highest office in the land. Many were worried about the instability he might bring to, well...everything.
Here is what some well-known market participants had to say around election time:
"Even if Donald wins, I have no doubt in my mind the market tanks."
- Mark Cuban
"It really does look now like President Donald J. Trump, and the market is plunging. When might we expect them to recover? If the question is when the markets might recover, a first-pass answer is never."
- Paul Krugman
"In preparation for a completely unpredictable Trump presidency, I sold all stocks in my children's education accounts today. I urge you to do the same."
- Kurt Eichenwald
Since investing is a zero-sum game, their loss is your gain. Not only has 2017 been a positive year in the markets, but we haven't experienced a single negative month since Trump was elected.
Unfortunately for these smart, successful, and famous men, the market does not care who sits in the Oval Office. Conservatives learned this lesson when Obama was elected President, and liberals are learning it now.
This year has been another example of how making investment decisions based on politics hasn't typically worked out well.
Credit for the quotes: A Wealth of Common Sense