Ned Davis Distills Political Angst Into ‘Big MAC’ Equity Trade

Wall Street loves few things more than a good acronym to describe a trading thesis. Think FANG, FOMO/YOLO and TACO.

Now Ed Clissold wants to coin a new moniker. He’s calling it the Big MAC trade, a play on Big Midterms Are Coming. The chief US strategist at Ned Davis Research is aiming to capture what he thinks will be the main theme of 2026: the policy implications in the runup to and fallout from this fall’s Congressional vote.

President Donald Trump’s flurry of quasi-policy proclamations to start the year — fired off mostly on social media, with virtually ...