What does cnn have to do with you telling me what I didn't hear on fox news? The majority of people on this site seem to know that Fox twist and bend stories, but I guess your one of the believers that they are "Fair and Balanced."
The big Hedge Funds will still be unwinding until November 15, the last day to get funds out for year end tax reporting. They are going to liquidate on any days that have a downward trend. This ugly b**** could get even uglier over the next two weeks. You could see a rally around January 20th when any year end bonus money and 401K contributions go bargain hunting, but that won't be due to Obama either.
Look. Here's the fact. The people who actually read the news (Smith and Wallace) are actually fair and balanced. If you're looking to people paid for their opinion to be fair and balanced, it's not going to happen. I'm not an MSNBC fan but I know the difference between Olbermann and Brian Williams. Is FOX completely fair and balanced? No. Why does it bother you so much, though? Just don't watch. I don't agree with most of what they say or most of what MSNBC says. That's why I don't do most of my news viewing on those channels. Does it bother me that they're like that? No. Why should I care?
i know some folks on the street who've already been told what to expect, and there's not going to be that many bonuses (nor should there be).
I wasn't referring to Investment Bankers solely, but across the broad spectrum of corporate America. I expect bonuses in general to be a small percentage of what they have been over the last decade but many performance goals were hit in the first 1/2 of the year before the bubble burst. And board and executive level bonuses will be the last ones cut.
Very tough to make the argument that the market was voting on the election. We do know that Warren Buffet voted, however, and he voted for Barack Obama.
Well I could make similar comments about people and sign them Rev. Wright but that wouldn't be funny now would it.
So I guess according to Basso's logic when the market is up >20% by the end of Obama's 1st year (14 months from now) we can say what brilliant moves his team made. Let's bring it up then and see if Basso gives him credit. But I am afraid all we will here however is that it "was normal economic cycles where he can into office with an undervalued market and the market bounced in spite of him/them", or perhaps it was "sinister market manipulators active in the fall of 2008 by elites who wanted to wreak the economy to put a Dem in office".
BTW everything I have heard about Obama possibly restoring capital gains to pre-Bush levels would take a multi-year and gradual phase in (and exclude some start ups and small company stock, where taxes would be nil). Sure, investors would sell all their stock now while it is low (in fact most stock, etf and mf holdings in taxable accounts have losses right now) rather than taking huge profits down the line having to pay a 5% more tax 2 or more years out. Sure, they would rather sell their assets with potential 20-30-40-50% appreciation in a relatively short time frame just so they don't have to pay Uncle Sam the extra 5% on their future earnings.
Even if Obama hikes up capital gains tax I bet people are underwater if they bought in the two years.
It's clear that the market tanked Wed and Thurs because the election reminded everyone that George W. Bush is still President and will be until Jan 20. In the face of horrible jobs numbers today, the market is holding steady in anticipation of Obama's press conference. I know this because I can see a bank from my house.
