The death of narrative

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The death of narrative
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2016 incorporated many themes, but the one I would suggest is most pertinent to private investors could be called ‘the death of narrative’. To put it another way, whenever Groupthink encountered the prospect of a geopolitical sea change, it would turn out to be irretrievably wrong.

Brexit couldn’t possibly happen – until it did. Trump couldn’t possibly get elected as US President – until he did. And I suspect that the Trump victory will ultimately be judged by historians as the election that Twitter won.

We may all have just experienced ‘peak press’; the relentless rise of “the Donald” was not just a coup against the Establishment, it was an extraordinary repudiation of the power of conventional media.

As a passionate advocate for the ‘Leave’ campaign, even I have been taken aback at the ferocity of the “Remoaner” backlash. The best analysis I have seen of the Brexit verdict came in the form of a fizzingly eloquent essay in The New Statesman by the philosopher John Gray….

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