Tuesday | October 08, 2002
Dems better for Wall Street
Well it's official. Despite popular perception to the contrary, Wall Street performs best when a Democrat is in office.
Democrats, it turns out, are much better for the stock market than Republicans. Slate ran the numbers and found that since 1900, Democratic presidents have produced a 12.3 percent annual total return on the S&P 500, but Republicans only an 8 percent return. In 2000, the Stock Trader's Almanac, which slices and dices Wall Street performance figures like baseball stats, came up with nearly the same numbers (13.4 percent versus 8.1 percent) by measuring Dow price appreciation. (Most of the 20th century's bear markets, incidentally, have been Republican bear markets: the Crash of '29, the early '70s oil shock, the '87 correction, and the current stall occurred under GOP presidents.)Make sure you spread the word at your next cocktail party. Posted October 08, 2002 08:03 AM | Comments (2)