Ridiculing conservatives' obsession with gauging the Obama presidency based upon the performance of the DOW Jones index, Nate Silver notes that the market is now above where it was when Obama took office.
Well, two can play that game, of course. So here's another one for you. How much money would you have today if you'd placed $1000.00 in the DOW when Obama recommended buying stocks, on March 3 of this year?
(answer following the graphic)
The answer: $1112.99
Following Obama's advice you'd have made a 11% return on your investment in just over two weeks. Not bad. I think we've found Jim Cramer's replacement should the Mad Money guru decide to call it a day.
Wednesday, March 18, 2009
Dumb Metrics
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7 comments:
Great post. I'll take 11%. I've noticed the Republicans have been rather quite lately about the stock market. If they're going to blame Obama for the down days then they need to give him credit for the gains as well.
...just as the repubs were quiet about the Democratic Congress after gas dropped from >$4 to <$2/gal.
Look where the Nasdaq was just before Bush took office--2770. The day he left it was 1440, a 42% decline!
Well, duh. Their criticisms aren't meant to be taken seriously, they're just making noise. Looking for consistency in their message is a waste of time.
And how much money did I lose during the Dubya Administration? Durn near all of it.
Typical pump. Obama pitches stocks; people buy. Now just wait for him to sell his secret holdings and watch the market crash.
Republicans have been rather 'quite' for a long time. The reason why?
During the Clinton administration the stock market gained 210%.
(More than tripling your money according to the S&P 500)
During the Carter administration the stock market gained 30%.
During the Kennedy/Johnson administration the stock market gained 68%.
During the Bush administration the stock market lost 40% of its value.
During the Nixon administration the stock market lost 4% of its value.
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