Arthur Hayes: If Trump continues with his policy choices, expected returns for PE and VC will drop significantly

Arthur Hayes tweeted that the latest generation of US equity investors is too used to a structural upside bull market. This is more of an exception than the global norm, and there are many examples of stocks continuing 10 years of sideways/range volatility even when underlying economic growth is good.
The market is expected to provide the perfect environment for the type of trader who can adapt quickly and thrive, but it will be extremely pessimistic for many private-oriented strategies. If Trump continues with his policy choices, the expected returns for PE and VC should drop significantly.