| In a way, what's happening in the market this year was entirely predictable. No, most political and economic observers had no idea of the draconian tariff regime President Trump would announce, which sent the market plummeting early this month. We also couldn't foresee Trump's threats to remove the head of the Federal Reserve, which also sent stocks dramatically lower. But if we had looked at how the market has performed under each new U.S. president over the past two centuries, we should have expected a very choppy and sideways market this year - exactly what we ended up getting so far. I'm referring to the four-year presidential market cycle, a topic I've touched on before in this space. That particular analysis looks at market returns in each year of a four-year presidential term, going all the way back to 1833 and President Andrew Jackson. It found that over those 192 years and 48 presidential terms, the market performed significantly better in the third and fourth years of each presidential term than in the first two years. It also found that the first two years of president's terms have been, on average, very choppy. Here's the Dow Jones Industrial Average return by year of each presidential term... | 
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