Arthur Hayes: If Trump continues his policy choices, the expected returns of PE and VC will decline significantly

ChainCatcher message, Arthur Hayes tweeted that the latest generation of U.S. stock investors is too accustomed to structurally upward bull markets. This is more of an exception than a global norm, with many examples showing that even with potential economic growth being good, the stock market can experience 10 years of horizontal/range-bound fluctuations.

The market is expected to provide a perfect environment for traders who can quickly adapt and thrive, but it will be extremely pessimistic for many private-oriented strategies. If Trump continues his policy choices, the expected returns for PE and VC should decline significantly.