My career as a financial tipster lasted only a few seconds, but, if I say so myself, it went rather well. In the hours that followed Donald Trump’s election in 2015, U.S. stocks fell and the dollar weakened. “Buy the dip,” I told my Twitter followers, and, sure enough, the spasm passed almost immediately. Within a day, the relevant statistics were above where they had been before the election, and 3 1/2 years on, the U.S. has seen strong growth and the best jobs figures in more than half a century.
How did I know things would work out? Simple: I could see that the immediate market reaction was irrational. Most commentators and international observers were antipathetic to Trump for reasons that had nothing to do with his economic policies. They disliked his character flaws, his readiness to threaten opponents with jail, his abusive language, and his narcissistic tweets. These things upset them so badly that they could not bring themselves to see that his program of deregulation and tax cuts was likely to stimulate the economy.
