Market’s Collected Wisdom on Presidents Is Often Dead Wrong
- Valuations and the economy pose thorny issues for stock bulls
- Biden has made it clear the Dow won’t be his first priority
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There’s been a narrative in trader circles for some time now that they’re fine with, maybe even a little excited about, the prospect of a Joe Biden presidency. Many a rally has been ascribed to growing chatter about the possibility of a blue wave on Election Day.
And yet, for some investing veterans, there’s a nagging concern that this view is a little optimistic, that some of the things that have made Biden an attractive candidate for voters craving change could make for a rougher ride in markets.