Political capital as a tradable asset since '92:

1992-2000: LONG Clinton
2001-04: LONG W Bush
2005-08: SHORT W Bush
2009-15: LONG Obama
2015-16: LONG Trump
2017-20: SHORT Trump
2021: LONG Biden
2022: SHORT Trump
2024: LONG Trump
2025-26: SHORT Trump

If you're not thinking about macro like this, you're already behind. Political cycles = liquidity cycles. The best traders know when to flip.

Current position? Ride the Trump pump through '24, but set your exit for '25-'26. Don't be the last one holding the bag when sentiment shifts.