Posted on 07/14/2008 3:32:27 PM PDT by Nachum
Investors this summer have been placing their bets on an Obama presidency, and for the most part that hasn't been good for the market.
Without giving him a chance to explain himself in detail on the campaign trail or at the Democratic National Convention, they are voting with their shares by tossing financial, health insurance, manufacturing and high-dividend stocks into the ash can, and are growing skeptical about energy companies as well.
It's not that major institutional investors don't like the man -- far from it. He has many backers among the financial elite, including multibillionaires George Soros and Ron Burkle. And it's not that there aren't many other reasons for investors to sell stocks now, as the global economy tangles with the terrible twin beasts of bank deleveraging and inflation.
(Excerpt) Read more at articles.moneycentral.msn.com ...
...But they won’t bet their money/futures on him...
>B-)
Obama wants to rise corporate taxes, raise capitol gains taxes, and take the cap off of social security taxes. Wall Street should be very very scared, unless you already have your billions. Taxes don’t tax the already rich, it taxes the people who want to become rich.
Agreed. Under Imam Obama, there will be no Wall Street.
Soros and Burkle as supporting Obama because they sold the U.S. short long ago and see Obama as the way to collect their winnings.
Cramer was on tonight calling for higher taxes. So I guess he’s a Wallstreeter for Obamba.
I see No future for America with Obama at the held
If Obama wins, look for a huge sell for at least one reason. The capital gains tax will rise and the tax will be made retroactive to Jan 1, 2009 much as Clinton did back in 1993. Thus it would behoove anyone with a profitable position to close it out before year’s end.
huge sell = huge sell-off
Because he is a socialist.
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