On Monday evening, something strange happened: Donald Trump became a “loser.”

Not in the pejorative sense of the word (as he so often uses the term), but rather in the sense that the GOP front runner who just two days ago surpassed Ted Cruz in Iowa pre-caucus polls for the first time since last August, lost to the Texas senator in the all important Iowa caucuses.

To be sure, few would have predicted last year that the brazen billionaire would have been competitive in Iowa, let alone place second. In that regard, last night’s performance was a validation of Trump’s legitimacy as a born again politician.

On the other hand, the results suggest Trump can’t win on mere bombast. Trump spent as much on “Make America Great Again” hats as he did on staff in the lead-up to the caucuses and that, some say, may have cost him.