It all depends on how frequently he talked up the markets. In the unlikely event of this being the only data point, then the man is an investment genius.
I think it really was perhaps the only time he advise to buy stocks. It got a lot of news attention at the time since it was so unusual for a president to give stock market advice. But I'd be curious if people can find other statements that so directly advise to buy stocks.
We saw a similar trend in sensex when the UPA government was re-elected with a clear majority. government stability or its future guidance does reflect on the country's macro economics.
I remember he got flack for days when he said it. But I remember turning to my wife and saying he's getting good advice from Buffett (who was one of his econ advisors). I also pointed out that he focused on LONG-TERM (like Buffett). Anyone good at investing realized this. Even Fred Wilson talked about buying up Amazon (and a few others) when its p/e was insanely low…around this time.
$10k question – is the market strong or the dollar weak? Compare EUR/USD rate to market performance. 1yr is a dead heat. 2yr, 5yr, no contest.
Oh, yeah… I remember that soundbite – I was meaning to look up whether that happened around March 9.Good find.
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