, Columnist
Betting Against Trump Was a Winner for a Second Year
An index of companies he attacked blew away those he favored.
Trump foe, outperformer.
Photographer: Sean Rayford/Getty Images North AmericaThis article is for subscribers only.
Two years ago, a new presidency began, stylistically different from the one before it. As inauguration approached, I wondered: How would President Donald Trump affect the market performance of the industries and companies he championed and those he attacked?
The period between Election Day and the inauguration was filled with aggressive Twitter broadsides by the president. He tweeted at companies by name; he yelled at or praised their chief executive officers; he caused their stock prices to gyrate madly. What were the long-term consequences of being on the president’s good or bad side?