Despite Republican criticism of his achievements, Barack Obama has a market record any red-blooded American capitalist could be proud of, U.S. shares have soared, oil prices have come down, borrowing is cheap and profits are up along with the dollar. Despite the fact that the economy been punk, corporate profits became the largest percentage of GDP ever in this cycle, said Richard Bernstein, chief executive of fund manager Richard Bernstein Advisors LLC. You can talk about whether that social justice or not but that’s not my day job.
Key Takeaways:
- Even those who bet against the soon-to-be ex-President Obama made good money, with returns from gold and bonds better than those delivered by shares under his predecessor, George W. Bush.
- U.S. stocks delivered far better returns under Mr. Obama than almost any previous president; performance was also well ahead of the rest of the world.
- Donald Trump will on Friday be inaugurated as the 45th president of the U.S. He inherits an economy in much stronger shape than at either of the past two inaugurations, but major questions loom over how he can boost productivity and deliver on his growth promises.
“Investors have applauded the corporate makeover at General Electric Co. Their optimism will be put to the test Friday when the industrial bellwether reports fourth-quarter results.”
http://blogs.wsj.com/cfo/2017/01/20/the-morning-ledger-obamas-stock-market-legacy-is-hard-to-beat/
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