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NOTHING IS PERMANENT EXCEPT CHANGE

In a world where “nobody knows anything,” investors may be no better than film-studio moguls at predicting the future. If so, then markets, instead of being predictive, become increasingly reactive, simply extrapolating recent events.

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Mike Flynn, Jim Mattis, and Rex Tillerson don’t have much in common with each other — or Donald Trump. But together they might revolutionize American foreign policy.

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