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From the Bespoke Investment Group, by way of Seeking Alpha.
While there are any number of polls that are taken to measure public opinion of a specific event or policy, for investors, the ultimate gauge of opinion on anything is the performance of the market. With that in mind, there has been a lot of talk regarding the performance of the Dow Jones (DJIA) so far during President Obama's term. Upon his election, many in the media and on Obama's staff said that his election would bring about a new sense of hope in the American psyche, much in the same way that other democratic heavyweights such as FDR and JFK improved sentiment in America. However, based (rightly or wrongly) on the stock market's return so far, this new sense of hope has yet to bear out.
From the time President Obama was elected to his inauguration, the DJIA put in its worst performance over all election to inauguration periods since 1900, with a decline of 17.4%. And on the day President Obama was sworn in, the DJIA put in its worst ever inauguration day performance with a decline of 4%. Since then, things haven't gotten much better. Not including the inauguration day decline, the DJIA has dropped an additional 14.92% since President Obama was sworn in. Over the last two weeks, these declines have intensified with losses in ten out of the last twelve trading days.
Critics of President Obama have used these statistics as ammunition against his policies, while his supporters have laid the blame on the issues that he inherited. Both the critics and supporters of the President have valid arguments. With the passage of time, however, President Obama's ownership of how the market unfolds (good or bad) becomes less debatable, and as it stands now, he is not off to a good start. Through yesterday's close, the DJIA's performance during President Obama's first 41 days in office is the worst of any President since at least 1900.
http://seekingalpha.com/article/1238...arts-1900-2009
While there are any number of polls that are taken to measure public opinion of a specific event or policy, for investors, the ultimate gauge of opinion on anything is the performance of the market. With that in mind, there has been a lot of talk regarding the performance of the Dow Jones (DJIA) so far during President Obama's term. Upon his election, many in the media and on Obama's staff said that his election would bring about a new sense of hope in the American psyche, much in the same way that other democratic heavyweights such as FDR and JFK improved sentiment in America. However, based (rightly or wrongly) on the stock market's return so far, this new sense of hope has yet to bear out.
From the time President Obama was elected to his inauguration, the DJIA put in its worst performance over all election to inauguration periods since 1900, with a decline of 17.4%. And on the day President Obama was sworn in, the DJIA put in its worst ever inauguration day performance with a decline of 4%. Since then, things haven't gotten much better. Not including the inauguration day decline, the DJIA has dropped an additional 14.92% since President Obama was sworn in. Over the last two weeks, these declines have intensified with losses in ten out of the last twelve trading days.
Critics of President Obama have used these statistics as ammunition against his policies, while his supporters have laid the blame on the issues that he inherited. Both the critics and supporters of the President have valid arguments. With the passage of time, however, President Obama's ownership of how the market unfolds (good or bad) becomes less debatable, and as it stands now, he is not off to a good start. Through yesterday's close, the DJIA's performance during President Obama's first 41 days in office is the worst of any President since at least 1900.
http://seekingalpha.com/article/1238...arts-1900-2009
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