The Scott Bessent Trade
Today we examine a possible trade. Consult your adviser for details and decisions. This discussion is not investment advice.
August 25, 2026
David R. Kotok co-founded Cumberland Advisors in 1973 and during his career served as its Chief Investment Officer, CEO, and Board Chairman. Today, he serves as a Strategic Advisors to the firm and continues to write regular commentaries, author books & pamphlets, and speak at public events. David holds a B.S. in economics from the Wharton School of the University of Pennsylvania, an M.S. in organizational dynamics from the School of Arts and Sciences at the University of Pennsylvania, and an M.A. in philosophy from the University of Pennsylvania.
Today we examine a possible trade. Consult your adviser for details and decisions. This discussion is not investment advice.
This weekend we witnessed a first-time use of Smoot-Hawley in American history: Trump actually deployed Section 338 of the Depression-era law against Canada. IMO, this is serious.
Our pre-dinner deck chat at Leen’s Lodge on Sunday, August 9, focused on gold, USA creditworthiness, and China’s payments system versus the US payment system. Are we looking at a Bretton Woods 2.0?
David R. Kotok’s financial market commentaries have appeared in publications including the New York Times, the Wall Street Journal, and Barron’s, and he has appeared on Bloomberg TV, Bloomberg Radio, Yahoo Finance TV, and other traditional & digital media outlets. He also shares his perspective on his own YouTube channel: youtube.com/@David-R-Kotok
