Bernanke/Obama Neck-and-Neck with Romney/Ryan
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With Barack Obama and Mitt Romney tied in the polls, traders are trimming positions given the uncertainty. After all, traders looking for a 50/50 bet might just as easily hit the craps table. There is also debate among investors about which candidate would be better for the stock market, given Romney's anti-Bernanke QE forever stance.
As if Wall Street political discussions weren't heated enough, throw in a pinch of Keynesian Economics and what you have is an explosive argument that likely resembles an episode of the Jersey Shore filmed during the height of Hurricane Sandy. It's no secret that most Wall Street–types favor Romney, but many others, such as Warren Buffet, are avid supporters of Obama's tax-the rich plan. Others, especially those in the academic community, are huge supporters of Bernanke.
At the end of the day, the economy may not care which candidate takes office, but investors certainly do care. Healthcare, dividends, oil/gas, coal are all topics investors are focused on. For now, since the election is so close, the election remains a tough bet and a conversation best avoided. Obviously that will all change in just a few days time.
As if Wall Street political discussions weren't heated enough, throw in a pinch of Keynesian Economics and what you have is an explosive argument that likely resembles an episode of the Jersey Shore filmed during the height of Hurricane Sandy. It's no secret that most Wall Street–types favor Romney, but many others, such as Warren Buffet, are avid supporters of Obama's tax-the rich plan. Others, especially those in the academic community, are huge supporters of Bernanke.
At the end of the day, the economy may not care which candidate takes office, but investors certainly do care. Healthcare, dividends, oil/gas, coal are all topics investors are focused on. For now, since the election is so close, the election remains a tough bet and a conversation best avoided. Obviously that will all change in just a few days time.
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