Trumpian growth is the supply-side cure to “Bidenflation” and that’s the subject of the riff. Nobody really knows what drives stocks up – or down – in the short run. That’s why I have long been a believer in a buy and hold index fund strategy, i.e. passive investing.
Many disagree, and I respect that, but that is still my view. All that said, it is noteworthy that the Dow Jones index has dropped 9 straight days – for the first time since 1978. Over half of the Dow decline is the function of a 20% drop in United Health Group, following the heinous murder of their insurance CEO Brian Thompson. But aside from the United Health tragedy, roughly two-thirds of the Dow components have fallen during this 9-day selloff – including NVIDIA, which has dropped 11%.
Nobody should push the panic button on the stock market. The S&P 500 has been roughly flat during this Dow …