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Sometimes, Investment Ignorance Is Bliss

John Rekenthaler (john.rekenthaler@morningstar.com)

Under Donald Trump, the argument ran, businesses have recaptured their "animal spirits" and are acting with renewed confidence, which has stimulated job creation, thereby sparking the stock market. Nobody measures the animal spirits of corporate executives, nor can the effect of a single factor on the economy be readily judged. One possible test of the Presidential Premise, as we shall call it, was this Wednesday's stock market performance.