I have met the enemy, and he is me. (What Trump, channeling Pogo, should be saying to himself every morning)
Donald Trump has been such a disruptive agent during his first few months as President that it’s easy to dismiss him as hopelessly incompetent. That would be a mistake: one common way MEPs prevail is because other people write them off as unhinged lunatics. I’ll get to the lunatic aspect of our MEP President in a minute, but, first, let’s give the devil his due. Lost in all the chaos is the fact that some of Trump’s bewildering behavior accomplishes useful things. For example:
There is so much emotionalism about Donald Trump – both pro and con – that I’m trying to explain his behavior by looking at issues outside the man himself. I’m looking at how people behave who have very similar personality types (i. e., MEPs) and at how people are likely to fare in the Presidency if they, like Trump, have never held elective office. In particular, I’m looking at people who share both those traits.
I’m claiming to be able to explain Donald Trump – and predict his actions as President – by reference to only two of his characteristics. The first is that he’s what I’ve called a Mega Entrepreneurial Personality, a trait he shares with an infinitesimally small group of Americans.
I’m determined to explain Donald Trump by referring to merely two of his traits, the first of which I’ve dubbed the Mega Entrepreneurial Personality, or MEP. Here are a few more examples of MEP characteristics we’ll need to consider as we try to understand the 45th President of the United States:
If writing about music is like dancing about architecture, then explaining about Trump is like sneezing about hermeneutics.
Well, the best-laid plans…
I’d intended to interview the contestants in our little investment contest to get their take on the markets and on how well or badly they, personally, had navigated the various challenges those markets had offered. I was especially interested in what, if anything, the contestants had learned. But I was mainly thwarted.
Bull Markets and Bear Markets are such momentous events that they tend to fixate investor attention to the exclusion of more important matters. Most people, for example, would define a “market cycle” with reference to Bulls and Bears.
So far in our increasingly exciting investment contest it’s been a positive experience all around. For the first three years the capital markets rose relentlessly: a modestly positive first year followed by two terrific Bull Market years. But things are about to change.
Last week we observed how our investment competitors fared as they navigated a boring, so-so market environment. But this week things get more interesting.