Wednesday, November 5, 2008

Bloomberg Glass Half Full

Bloomberg points out the wildly unscientific proposition that by the time Obama get to the White House in January, the market, having already fallen a lot, may be ready to rally. This could set up a bull market that he can claim as his own.

``The markets will turn before we know the economic recovery is going on,'' said Robert Weissenstein, who oversees $125 billion as chief investment officer for the Americas at Credit Suisse Group AG's private banking unit in New York. ``The new president won't get tagged for the problems that exist. If things get better, they were there. That's politics. The general public will give credit to the new guy.''

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