Get the entire 10-part series on Ray Dalio in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. Before and immediately after it was clear that Donald Trump had been elected, the markets (especially the stock market) had negative votes on the man (thinking he might be irresponsible), while after he got elected, the markets reacted to the man’s policies—so the correlations reversed.  That shift was due to the changing complexion of market participants—those who drove the markets after his election were largely those who kept their powder dry until they saw the...