By Charlie Morris – Fleet Street Letter (Great Britain)-
Generally speaking, political change hasn’t been great for the US stockmarket. Reagan (elected November 1980) and Obama (elected November 2008) oversaw the two giant recovery rallies in the 1980s and recently. Over this timeframe, Clinton I (elected November 1992) was the only president to oversee a massive move that represented the lion’s share of the real stockmarket gains over the past five decades. Prior to that, you have to look back to the post-war surge under Truman and Eisenhower.
More often than not, and regardless of who was elected, the change event has caused markets to sell-off. Clinton I was the exception. And even then, it took two years, with a serious shake-up in both equities and bonds in 1994, before the market eventually took off.