"People's economic moods are largely based on the stories that people tell themselves and tell each other that are related to the economy...people will and do buy snake oil...And when that is discovered, as it invariably must be, the confidence disappears and the economy goes sour."
Jamie Dimon (CEO of JP Morgan):
"One of the CEOs came out of one of those meetings with Trump and said, 'We've never had such a pro-business president since the founding fathers.'
"Now, I'm not sure that's true, but consumer confidence, small business confidence, all skyrocketed"
Something disturbing ALWAYS happens to small caps after eight years...The animal spirits run far far away, with all of the money...
Market Liquidity (red line):
Barron's March 10th: