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Voting with Dollars - Wall St. Makes Their Preference for President Very Clear

Voting with Dollars - Wall St. Makes Their Preference for President Very Clear

I had a good laugh this morning watching the stock market averages spike up in response to the news that the FBI has found no new evidence to change it's July recommendation regarding Hillary Clinton's emails. The spike follows the longest skid for the S&P 500 in 36 years - nine days of negative stock returns for the broad market average. Ever since the FBI director sent a letter to Congress informing them of the re-opened investigation, the stock market's behavior has clearly shown which candidate holds the  investor's aggregate preference for president.  Even with Trump's promises to lower the tax rates, dismantle Obamacare and other business friendly incentives, he still sets off the anxiety alarms of the money managers pulling the levers on Wall Street.  I find this particularly amusing in light of the amount of column space that the Wall Street Journal editors have invested in bashing Clinton.  I admit that the editors have outlined credible concerns about Clinton but, at least in the Audible summaries, they haven't had the courage to criticize any of Trump's scandals or faults. Maybe it's llike popcorn, once they start, they may not be able to stop? The absense of equal criticism of Trump doesn't appear to have made any difference.  The Journal's nearly daily criticism of Clinton seems to have done little to allay business concerns about a Trump presidency.  Trump will likely be all over the media on Wednesday with accusations of election rigging but when a Republican candidate receives such a clear signal of repudiation from the investment professionals, he really should play the blame game with his mirror.  

Some Perils of Passive Investing

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Thursday, 23 November 2017