Companies that do make things are always susceptible to economic cyclicality, and the key to generating returns on these stocks is to buy them when they are trading at discounts to historical levels based on "mid-cycle" earnings, i.e. the amount the company can earn in a period of normal economic growth. So you buy them when things look bleak and sell them when things look rosy.

We are almost exactly one year removed from last year's presidential election, and the bleak forecast in the event of a Trump victory had hit industrial stocks, including the four I focus on here: Caterpillar (CAT) , Cummins (CMI) , Deere (DE) , and Navistar (NAV) .

Well, Trump won, the world did not end and the United States has not engaged in "massive trade wars" with China, Japan, Lesotho or any other country. Also, the U.S. is closer to meaningful reform of its corporate tax code than at any time in the past 31 years.

So, it stands to reason that pre-election was a good time to buy industrial stocks, and the one-year performance numbers do not lie. Here are 4 industrial stocks that have soared since Donald Trump's election.

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