A few days ago, I published
Investing is Hard. In the article, I shared two things:
- One, snippets of the State of the Union Address that two former US presidents, Bill Clinton and Barack Obama, gave in January 2000 and January 2010, respectively.
- Two, the subsequent performance of US stocks after both speeches. Clinton’s speech was full of optimism but the US stock market did poorly in the subsequent decade; on the other hand, Obama’s bleak address was followed by a decade-plus of solid gains for US stocks.
Here’s the snippet from Clinton’s State of the Union Address:
“We are fortunate to be alive at this moment in history. Never before has our nation enjoyed, at once, so much prosperity and social progress with so little internal crisis and so few external threats. Never before have we had such a blessed opportunity — and, therefore, such a profound obligation — to build the more perfect union of our founders’ dreams.
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