In this memo he takes on the topics of politics and economics and how its intertwined. Given that the acceleration (yes it was due to come at some point) of the global slowdown and financial markets volatility can be arguably due to the efforts of Trump to level the playing field with China. The discussion of political moves has come to the forefront of most commentators and well-established investors.
As usual it’s a well thought out memo that requires re-reading and highlighting, enjoy it over the weekend.
Source: Oaktree Capital