The First 100 Days… Of Volatility

A Rocky Start To Trump 2.0

An Update On – And Changes To – Trump’s Secret Stocks

This is Porter & Co.’s The Big Secret on Wall Street, our flagship publication that we publish every Thursday at 4 pm ET. Once a month, we provide to our paid-up subscribers a full report on a stock recommendation, and also a monthly extensive review of the current portfolio, as we share below – including two sell and two buy recommendations… At the end of this week’s issue, paid-up subscribers can find our Top 3 “Best Buys,” three current portfolio picks that are at an attractive buy price. You can go here to see the full portfolio of The Big Secret. Every week in The Big Secret, we provide analysis for non-paid subscribers. If you’re not yet a paid subscriber, to access the full paid issue, the portfolio, and all of our Big Secret insights and recommendations, please click here.

When President Donald Trump took office for the second time in January, we anticipated an “economic explosion” the likes of which our country hadn’t seen since the great American industrial revolution.

Unfortunately, what we’ve gotten so far has been closer to an economic implosion.

Following the president’s announcement of sweeping tariffs last month, both the markets and the economy went into a tailspin.

The major U.S. equity indexes plunged 15% in just four trading days… one of the sharpest declines in history. U.S. Treasury bonds – which typically rise in price during market turmoil – fell nearly 10% over the same period… suggesting a loss of confidence in this core U.S. asset. And the CBOE Volatility Index (VIX) – the market’s “fear gauge” – surged above 60, its third-highest close in history, behind only the 2008-2009 Global Financial Crisis and the 2020 COVID crash.

Meanwhile, recent data suggest the tariffs are already creating real and lasting economic damage.

For example, just this week, the Commerce Department reported the U.S. economy unexpectedly contracted for the first time since 2022 – with the Q1 gross domestic product (“GDP”) declining at an annualized rate of 0.3%. Global trade has fallen off a cliff, with imports to the U.S. plunging 64% in the week after tariffs were announced. And several notable companies – including Procter & Gamble (PG), PepsiCo (PEP), and Chipotle Mexican Grill (CMG) – have recently slashed full-year sales and earnings forecasts due to sudden weakness in consumer spending.

We’ve repeatedly been very critical of the Trump administration’s tariffs – which we’ve called the largest tax increase in history – so we won’t rehash it all here. In short, while we’re sympathetic to the plight of middle-class Americans who have seen their standard of living erode over the past 50 years – and understand the desire to re-industrialize certain sectors of the U.S. economy (like defense) – we vehemently disagree that tariffs are a reasonable solution to these issues.

History is clear… Trade wars make everyone poorer, and if not contained, could trigger a global depression.

Fortunately, President Trump has walked back some of the more extreme aspects of his trade policy – reportedly on the advice of his Treasury Secretary, Scott Bessent, following last month’s market turmoil – as his administration works on trade deals with a number of countries.

Our hope is that this de-escalation continues, and the administration is able to strike deals with major trading partners that would achieve its goals while reducing tariff rates substantially. However, this outcome is still incredibly uncertain… which means volatility is likely to continue.

Over the longer term – assuming the U.S. can avoid a full-blown trade war – we remain optimistic about the administration’s goals to cut burdensome red tape, free up private industry, and unleash American energy and technology innovation.

However, given that the first 100 days of President Trump’s second term have been rockier than anticipated, in this issue, we’re reviewing the six recommendations in our “Trump’s Secret Stocks” portfolio… and making a few changes to it. This includes moving two positions to holds… selling two positions that have not performed as expected… and adding two recommendations to the Trump basket.

If you’re not already a subscriber to The Big Secret On Wall Street, click here to learn how to get access to these latest updates… or call Lance James, our Director of Customer Care, at 888-610-8895 or internationally at +1 443-815-4447, for more information on becoming a subscriber.