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I've said it a million times we said again if you plan on managing your own portfolio you need to disentangle your investment decisions from your political blues in politics you've got your team you want your team to win that's fine but the stock market doesn't care about your partisan affiliation trying to invest as a democrat or republican is a great way to lose money I know so many servers who hated President Obama they let that drive their decision-making and they missed out on some music is now people on the other side of the spectrum making the same mistake with President Trump your likes and dislikes are only going to lead you astray people you said what happened yesterday when Trump said that he got two phone calls from the Chinese and that they want to make a deal but then China immediately denied it while still making some conciliatory noises first you gotta admit those calls were well-timed if the calls happened dude they were let's say perfect coming into Monday morning and seemed like we were going down to huge stock market decline people didn't get to sell as much as they wanted to on Friday so the setup was ugly and things could have really gone off the rails then we hear about these calls the market comes roaring right back whether or not Trump was telling the truth that was always going to be a positive for stocks because it showed he was willing to talk rather than continue to ratcheting up tensions hey Trump you can refer a recession for I care so get booed rally office at office but you can't let that color your approach to the stock market you have to think about these events in terms of outcomes will it send stocks higher will it send stocks lower the event that's one thing the outcome is what we care about them they have money by the same token there's widespread belief that the peoples and probably China's all powerful that they play a long game it's their government can withstand any amount of pain so we can't possibly win the Train work now for the past 40 years the comest parties done a fantastic job of managing their economy they put foreign a million people to work they absolutely play for keeps but if you think the Chinese Communist Party is all-powerful how come they seemingly lost control of Hong Kong it's one of the largest most prosperous cities again think outcomes the long game doesn't matter you think China will try to outlast Trump I think good luck unless Biden wins the Democratic nomination and I think he's pretty clearly lost that there's a good chance that the candidate will be even tougher on China than the current administration they think president Trump is mad at them for stealing American jobs wait until they have to deal with President Warren who's mad about the jobs and even madder about them to spoil in the environment that's why I'm generally confident that we're gonna win this on war although I have no idea how long it will drag on or how much collateral damage we might have end up in the process let me make this very simple here I made money our only agenda is higher stock prices because you tend own stocks think of me as a dollar sign represented by a man so take it from someone who knows you don't rack up big gains in the market by trying to judge politicians you need to judge these cups and in terms of outcomes I've got today the character the person Oval Office is very little to do with whether the market goes higher or lower totally separate question hey like this Warren G Hardin not a great guy but Hardy was quick let's talk more Herbert Hoover by all accounts a trivet I Tom wolf in stock boy Jimmy Carter look guy not so good for this time or it sometimes lines up the other way Nixon bad guy side over bad market but mostly people there's no correlation do me a favor don't try to invent on
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