There is No Market, Only Trump

By: Graham_Summers

Those who lived through the ‘80s will undoubtedly remember the famous scene from the original Ghostbusters in which Bill Muray’s character goes to see Sigourney Weaver.

Unbeknownst to Murray, Weaver’s character has been possessed by a demonic spirit. And every time he states to her, “I want to talk to Dana” (the name of Weaver’s character in the movie), she responds, “There is no Dana, only ZUL!!!”

Today’s market is a bit like this, with stocks having been complete and utterly possessed by President Donald Trump.

In the last month, it’s become absolutely CLEAR that Trumps’ fiscal stimulus, tax proposals, and even Obamacare Repeal will not be passed soon… if at all.

Beyond this, GDP numbers are coming down. It is evident that the anticipated 5% GDP growth is not coming any time soon either… if at all.

And finally, earnings and other fundamentals are rolling over. Tax receipts and other unmassaged data points are indicating that the US is on the verge of, if not already in, a new recession.

But do stocks care?

Nope.

All they care about is the hype of Donald Trump. Hype… not reality.

All Trump has to do is tweet that something “HYUGE” is going to happen and stocks hit new all time highs.

This is not a critique of Trump, this is a critique of a market gone completely bonkers on hype and hope, with little to back it up.

This is the sort of environment in which Crashes happen.

And while the odds are low that we get an actual Crash… this environment is more conducive to Black Swan events than any other in the last seven years.

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Graham Summers

Phoenix Capital Research

http://www.phoenixcapitalmarketing.com

Graham also writes Private Wealth Advisory, a monthly investment advisory focusing on the most lucrative investment opportunities the financial markets have to offer. Graham understands the big picture from both a macro-economic and capital in/outflow perspective. He translates his understanding into finding trends and undervalued investment opportunities months before the markets catch on: the Private Wealth Advisory portfolio has outperformed the S&P 500 three of the last five years, including a 7% return in 2008 vs. a 37% loss for the S&P 500.

Previously, Graham worked as a Senior Financial Analyst covering global markets for several investment firms in the Mid-Atlantic region. He’s lived and performed research in Europe, Asia, the Middle East, and the United States.

© 2016 Copyright Graham Summers - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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