July 31, 2012

You Better, You Better, You Bet

Hatched by Korso

Picked up on an interesting article at CNBC, detailing how Wall Street expects the election to turn out this November:

One analysis concludes that last week's sharp three-day market surge can only mean that Wall Street is banking on a victory from Republican Mitt Romney.

That's the logical interpretation one can draw from a rally amid conditions that otherwise would demand a selloff, Morgan Stanley chief U.S. equity strategist Adam S. Parker said in an analysis that asserts there is no other reason now to like stocks than a Romney win.

In other words, stocks are on the uptick even though the economic news is all bad -- so in Wall Street's view, an impeding Romney win is the only thing that will save the day! Hardly a ringing endorsement of our current president's tenure, is it?

Ironic, considering how Barack Obama was Wall Street's golden boy back in 2008 (though how a quasi-socialist wealth re-distributor with radical ties got the high-finance guys all giddy remains a mystery to me). It just goes to show you how the Wizards of Smart aren't nearly as smart as they all think.

Still, I hope they're right on this one. After all, it ain't just their money riding on the outcome.

Hatched by Korso on this day, July 31, 2012, at the time of 7:47 AM

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