Friday, February 27, 2009
Signs of the times
Because I know you are interested, Atlas Shrugged is now up to #46
In wholly unrelated news, the purveyors of the "Congressional Effect" mutual fund report that they are crushing the market. The premise of the fund is that stocks do much better when Congress is not in session than when it is. The fund therefore holds stocks when Congress is in recess and sells them when Nancy Pelosi flaps her gums calls the House to order. Its performance in its first few months of operation has been quite good relative to the market, but perhaps that is simply because the market has been going down constantly since the fund's inception in May, and Congress has been in session more often than not. Anybody who was in cash most of the time since spring is a winner, not just people who time their trades to avoid political risk. All that said, I may invest a bit just to give me something annoying to talk about at parties.
3 Comments:
By 
, at
Fri Feb 27, 10:46:00 PM:
Well, good luck to them. Since January was the worst month for stocks since 1933 and all, I can only hope the Congress goes out of session early this year.
By 
D.E. Cloutier, at
Fri Feb 27, 11:51:00 PM:
"You got to know when to hold em, know when to fold em, know when to walk away and know when to run."
You sound like a born gambler, TH.
Thirty years ago, one of my pool-hustler friends decided to play baccarat in Las Vegas. He ran $200 up to $37,000 and back down to $200. On the second night he ran the $200 up to $57,000 and down to zero. One the third night he borrowed $100, ran it up to $107,000 and left town.
That's fearless.
By Dan Kauffman, at
Sat Feb 28, 12:55:00 AM:
