Haymaker Daily

On frenzies past and forthcoming

Hello, Subscribers:

A key Haymaker theme is that the Trump administration’s highly stimulative policies would be positive for hard assets, the shares of smaller- and medium-sized companies, as well as emerging market stocks and bonds. Hard assets have obviously been on fire for over a year (almost two years in the case of gold).

Lately, small- and mid-cap stocks (a Haymaker favorite) have come alive while emerging markets, and most other overseas indexes, dramatically outperformed the S&P in 2025. Ironically, though, foreign investors have been piling into U.S. shares to an extent never before seen.