As I’ve previously said, the best thing for this market might just be a long break from politicians. From TechTicker:
- The Dow has fallen about 11% since Election Day.
- The Dow’s fall on Obama’s Inauguration Day was the worst Inauguration Day decline in history.
- The Dow fell 384 points on Feb. 10, the day Treasury Secretary Geithner unveiled his financial stability plan.
- The Dow fell 298 points on Feb. 17, the day Obama signed the Stimulus Bill.
- The Dow fell to an 11-year low on Monday, following weekend reports about the government’s potential new plan to bail out Citigroup.
- The Dow fell nearly 200 points intraday Wednesday following Obama’s generally well received speech Tuesday evening. (The index did recover some lost ground, even briefly trading positive in the afternoon, before closing down 80 points as Treasury announced yet more bailout options for banks.)
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.