"Can we say when it will end? No. Can we say that it will end? Yes," noted Baupost's Seth Klarman in the past, warning "And when it ends and the trend reverses, here is what we can say for sure. Few will be ready. Few will be prepared.”
As previewed earlier, in a vote that many had expected would end up deadlocked 50/50 in the Senate, moments ago the confirmation vote for Trump's Education Secretary candidate Besty DeVos was indeed tied in the Senate after two Republicans - Collins and Murkowski voted against - which then prompted Vice President Mike Pence to cast the first ever tie-breaking vote for a cabinet nominee in Senate history, in the process confirming DeVos as America's new Secretary of Education.
Trump's ongoing spat with Iran escalated on Tuesday, when Iran's Supreme Leader, Ayatollah Ali Khamenei dismissed the US president's warning to Iran to stop its missile tests, saying the new U.S. president had shown the "real face" of American corruption. "We are thankful to (Trump) for making our life easy as he showed the real face of America," Khamenei said according to his website. He made the remarks in an address to the commanders of the Army Air Force on the verge of the Islamic Revolution’s victory anniversary which falls on February 10 this year.
Paul Singer, founder and President of Elliot Management Corporation is known for being a skeptic of traditional market pundits. In his fourth quarter letter, he made several different predictions about the market. He acknowledged the highly unpredictable environment that we have highlighted before in our articles about Trump and the markets. The letter also contains a specific warning about the worsening situation in China.