“the pen is mightier than the sword”
was first used by English author Edward Bulwer-Lytton in 1839.
It seems 186 years later, the phrase still rings true. We have entered a period of extreme uncertainty for all global citizens, governments and of course for us investors. This week will surely be as gut-wrenching as the last.
Many powers around the world, China, Russia, Iran and of course the EU had become committed to the idea that the US was not the Superpower it once was. It could be challenged and nibbled at continually, without provoking a response. Three terms of Obama in power, (no, I don’t believe I’ve made an incorrect statement here) have lead to much of the world believing Uncle Sam is a spent force. With the stroke of a pen, actually with very many strokes of the pen, Trump has unleashed the only bargaining tool he holds – the keys to the US consumers spending habits.
Bombastic, Bully, Stupid, Oligarch, Orangeman, Criminal, Failed Businessman. All probably true of the man to some extent, but of one thing we can be sure, he has huge Cahoonas and follows through on his campaign promises.
I have pretty much devoured every quality article written so far to try to understand the rationale, but more importantly to plot our course once again, now the wind has swung through a full 180 degrees. So far the best reasoning has come from Eoin Treacy, who is a member of our own investment committee. He writes….
Continue reading “The Stroke of a Pen”