Tuesday, October 27, 2020

Crashing the stock market won't stop Trump



The Dow Jones Industrial Average fell 650 points on Monday because (spins wheel of misfortune) "new data showed a jump in covid 19 cases in both the U.S. and Europe."
Well, that's as good an excuse as any.

If Jill Biden thinks this will help her brain-dead hubby get elected president, she has another thing coming because supporters of President Donald John Trump have been through the drill before.

Stocks plunged 34% (as measured by the S&P 500) from February 19 to March 23.


On August 18, the S&P 500 topped its record close on February 19 and I recovered everything I "lost" during the pandemic panic. All my money is in Vanguard's S&P 500 Index fund. 

I did not lose a dime because I don't panic when the market goes down. I ride it out. I am an investor, not a trader.

The pros know we know we have a good thing going with Donald Trump.

Mini Mike's news service, Bloomberg, reported, "With the final stretch of the election upon us, it’s still nearly impossible to guess how the stock market will react to next week’s vote. One estimate from JPMorgan Chase & Co.’s chief equity strategist puts U.S. stocks in for a double-digit advance if Donald Trump keeps his office.

"A victory for the Republican candidate could push the S&P 500 to as high as 3,900 at year-end under the most optimistic case laid out by Dubravko Lakos-Bujas, the bank’s chief U.S. equity strategist. The figure, some 300 points above his base-case target for year-end, implies a 12.5% advance from the gauge’s Friday close. While a number of traders have come to consider a Democratic sweep followed by a prompt fiscal deal among bullish scenarios for the equity market, Lakos-Bujas disagrees, seeing Trump’s victory as the most favorable outcome."

3,900?

That would be a 19% gain in the S&P 500 means Grandpa Surber is closer to that Bentley convertible he wants.



The stock market is doing so well that CBS reported, "Donald Trump has 87% chance of winning the election, stock market researcher says."

The story said, "The research, going back to George Washington, found 16 times in U.S. history when an incumbent president ran for reelection and the stock market was up more than 20% in the preceding three years. In 14 of those 16 times, the incumbent won reelection, giving a success rate of 87%. If the trend holds, Mr. Trump could be No. 15."

The story said stocks are up 32% in the last 3 years.

Overall, the S&P 500 is up 58% since we elected him.

A year ago, before there was any covid 19, I said a recession would not stop President Trump because he had worked to give America its best economy in 50 years.

That was true then. That is true now.

17 comments:

  1. Wall Street vs main Street. The big business boys are globalists even while their investors are capitalists.

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  2. Don, you're better off with your Mustang than a Bentley. Mustangs are more reliable, they have cheaper parts, and they're easier to work on. British cars are gorgeous but they'll hurt you.

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  3. I am poised, waiting to POUNCE on mini-crash that will conclude or around Monday, 11/9, after the latest/last bunch of looting ends. Then I will again SEIZE the market with a heavy move into equities, kick back, and chuckle like a pimp as I score another hundie grande before New Year’s. Big D, where should I have your Bentley delivered to?

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  4. Gramps...looks like the Bentley is motoring through all sorts of WV fracking dust.....and royalty check stubs....

    That phrase GTT - gone to Texas.....might be replaced to FBHI(w)V......finally back home in (west) Virginia....

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  5. "I don't panic when the market goes down."

    That's absolutely a correct attitude, BUT do consider sliding out on Nov 3rd if Duh People mistakenly choose Joe-mentia.
    Seriously.
    Go to cash, observe thoughtfully for a while, then find a safe spot.

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  6. Looks like a smoke column coming the lef tsid eof the Bentley-wouldn't be out of the realm of possibility. Ge tone on the last Shelbys instead.
    I've been a victim of the "Father of darkness." twice.

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    Replies
    1. "Where there's smoke, there's a British car."

      -- Red Green

      :-)

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    2. Agreed. British cars are garbage. Get one Surber, and update us on Highlights of the News every day. We are curious people that enjoy humor!

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  7. The markets crashed in late September, 2008. Even though McCain was a horrible candidate, it helped propel Sotero to the presidency. I believe Soros was behind it. Who knows what he will try this last week.

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    1. I see somebody told Gropin Joe's handlers to get his ass back on the campaign trail, no matter how loopy he was.

      Maybe Dr Evil wants him to die on the podium.

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    2. My first thought (re: latest Dow drop) was stock market manipulation by the Deep State. As CHT says, "trillions are at stake."

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  8. Soros has people who are watching him. H e might try something but it isn't as easy with a fighter in the White house Unlike W. who was a nice cooperative RINO. Several other factor aren't around either like the popped real estate bubble...

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  9. Oldest maxim in american politics.

    People vote their pocketbook.

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  10. An increase in Covid-19 cases is seemly what the media reports on to scare Americans but hospitalizations and deaths from the virus are down. Maybe we need to stop testing so we don't see any more cases and remove the media's stories.

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  11. Even after last week and this week I am up 14% YTD and 92% since the election! I expect a PDJT win to make me rich by year end and REALLY rich in 4 MORE years.
    Hooah!!!

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