On the Seeking Alpha site the author ‘Macro Ops’ posted an excellent article which explores a question that’s on everyone’s mind. Conventional market wisdom predicted a big market drop if Donald Trump won due to the uncertainty of his financial plans for the USA.  But then, after an overnight drop, the markets have been driving upwards. So what’s up? A long overdue market correction, or a new bull market run?

Here’s an introductory excerpt;
It’s interesting how quickly the consensus around what a Trump presidency means for markets went from “it’d be an unequivocal disaster” to “his policies will bring forth a new and lasting economic expansion.”

Moral of the story: consensus has a habit of being wrong and reality tends to be bit more nuanced.  What should we make of all the hoopla then?

The author continues to explore the question by referencing a couple market wizards, Ray Dalio and Stanley Drunkenmiller.  You can find the article here at Seeking Alpha.