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In response to
"Absolutely. But a good amount of it has to do with the market reacting to Obama and his policies. Did you see what happened to the market once Obama "
by
Notadumbliberal
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There's no basis for the claim that the market had anything to do with Obama's election.
Posted by
ty97
Nov 7 '08, 19:09
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I could argue the old Wall Street adage of 'buy on rumor, sell on news'. It was well known that Obama was leading, and the market went up. The election day occurred (the news) and the market went down.
But the fact is that would be crap too. Wall Street is based on the financial news, the whims of investors, 401Ks re-allocations, and lots of stuff that makes no sense. In a day when unemployment soared and GM and Ford announced record losses, the market went up. If you are trying to assign some sort of logic to that market, you've already lost.
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