According to Golden Finance, Arthur Hayes tweeted that the latest generation of U.S. stock investors are too used to structural upward bull markets. This is more like an exception than a global norm, and there are many examples that the stock market will continue to fluctuate horizontally/range for 10 years even with a good potential economic growth. The market is expected to provide the perfect environment for the type of trader that can adapt quickly and thrive, but for many privately oriented strategies, the market will be extremely pessimistic. If Trump continues his policy choices, the expected returns for PE and VC should drop significantly.