President-elect Donald Trump's transition continues to go smoothly. Better than smoothly. Confidently. More than confidently. Transcendently.
And to top it all off, the Dow is up 9 percent since the election, while economic-sensitive small-caps have jumped nearly 16 percent. These are signs of Trump confidence.
Hard-nosed investment manager Ray Dalio, founder of Bridgewater Associates and a non-political guy, expects the Trump years to be as transformational as the Reagan-Thatcher years. Dalio says the Trump era could "ignite animal spirits" and "shift the environment from one that makes profit-makers villains with limited power to one that makes them heroes with significant power."
That's as good a summary as I have found.
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