Wednesday, March 04, 2009
If You Want Just a Little Hint of Why the Markets are Tanking for Obama...
You need look no further than this little comment from the Obamasiah:
"The stock market is story of like a tracking poll in politics. It bobs up and down day-to-day,“ Obama said. ”And if you spend all your time worrying about that, then you’re probably going to get the long-term strategy wrong.“...“What you’re now seeing is a profit and earnings ratios get to the point that buying stocks is a good thing if you have a long-term perspective on it,”
No wonder he went into a career in community organizing rather than taking a job on Wall Street. If he doesn't understand the concept of a price-earnings ratio, not a "profit and earnings ratio", and thinks that the 18% decline in the S&P realized since he took office is just "up and down day-to-day", the banks no doubt told him to take a fly leap.
You need look no further than this little comment from the Obamasiah:
"The stock market is story of like a tracking poll in politics. It bobs up and down day-to-day,“ Obama said. ”And if you spend all your time worrying about that, then you’re probably going to get the long-term strategy wrong.“...“What you’re now seeing is a profit and earnings ratios get to the point that buying stocks is a good thing if you have a long-term perspective on it,”
No wonder he went into a career in community organizing rather than taking a job on Wall Street. If he doesn't understand the concept of a price-earnings ratio, not a "profit and earnings ratio", and thinks that the 18% decline in the S&P realized since he took office is just "up and down day-to-day", the banks no doubt told him to take a fly leap.
