On a scale of 1-10
- Republican cooler effect - 0
- Democrat cooler effect - 1
- Trump tax plan - 0 (actually negative)
- High valuations - 7 (p/e around 21 vs. historical average of 18)
- Fed interest rate hikes - 8
- Technology drought - 7 (new product innovation)
- Ability to commercialize Facebook, Twitter, etc. - 6
- Concerns over trade wars - 4
- Concerns over the debt - 2
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