05 Nov 2004 Our Challenge Lies Ahead
Posted at 15:53h in The Friday BriefFully aware of how deeply seated emotions are regarding the past Presidential election, and how much we are eager to get it behind us, I will be brief on that subject. However, it is important to observe what the market told us regarding our choice of President. Despite our deeply divided political convictions, the market made no secret of its druthers. In the months following the Republican convention in August, the S&P rose over 7%. The market’s strength was all the more remarkable given the steady bad news of record-setting oil prices, Iraqi war casualties, and rancorous campaign rhetoric.