Obama analyzes stock market: Good long-term buy (This from someone who never managed a thing)

sf gate ^ | 3/4/2009 | Tom Raum, Associated Press

[tobyhill]

The stock market reminds Barack Obama of a political tracking poll.

"It bobs up and down from day to day," the president said Tuesday. "And if you spend all your time worrying about that, you're probably going to get the long-term strategy wrong."

Most of the bobbing lately has been in one direction, relentlessly down. But Obama suggested that now is a good time for investors with "a long-term perspective" to buy stocks.

Stocks extended their losses to a fifth straight day Tuesday, with the Standard & Poor's 500 index falling to its first close below 700 since Oct. 28, 1996. But the losses were modest compared with Monday, when the Dow Jones industrial average tumbled nearly 300 points, leaving the closely watched indicator down 52 percent from the record of 14,164 set in October 2007.

[wastoute]

So how much has he bought? I call BS, he hasn't bough a thing.

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