Dissing The Market

IBD Editorials ^ | March 4, 2009

[Kaslin]

Economy: IBD readers don't need to be told there's a little more to the stock market than President Obama led on Tuesday. But if no one else is going to correct the record, we'll give it a shot.

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Fielding questions during an Oval Office meeting with British Prime Minister Gordon Brown, the president downplayed the market's continued weakness. "What I am looking for," he said, "is not the day-to-day gyrations of the stock market . . . but the long term."

The stock market, he continued, "is sort of like a tracking poll in politics. It bobs up and down every day. . . . If you spend your time worrying about that, you're probably going to get the long-term strategy wrong."

Obama also said "it's not surprising that the market is hurting. I think what we're seeing is . . . as people absorb the depths of the problems that existed in the banking system, as well as the international ramifications of it . . . there is going to be a natural reaction.

"On the other hand, what you're seeing now is profit and earning ratios are starting to get to the point where buying stocks is potentially a good deal, if you have a long-term perspective on it."

[Trod Upon]

Q: How can someone so dim have risen so high?
A: The electorate was dimmer.

[FreepShop1]

"The market is sort of like a tracking poll in politics. It bobs up and down every day"

Except when the Gallup poll drops sharply, American families don't lose their life savings.

[FreepShop1]

[Bubba]

THIS CLOWN IS A TOTAL MORON!

WITHOUT A TELE-PROMPTER HE DOES NOT KNOW HIS NAME. UN-BLEEPIN’ REAL. TALK ABOUT A TALKING HEAD??

GOD HELP US ALL... PLEASE & AMEN.

[genghis]

good answer.
What is the market telling bambi?
it is bush’s fault
that may fly, but i doubt it.

[Cindy]

http://www.freerepublic.com/focus/chat/2136635/posts

“Are you looking for a job?”

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