Democratic Fund Managers Outperformed Republican Fund Managers
Straight from the Mercatus Institute, libertarian
Tyler Cowen notes that fund managers who donate to Democrats outperformed fund managers who donated to Republicans. The difference is small compared to the huge volatility of stock market returns, but it is not small compared to the variance of the performance of the two groups of fund managers.
In particular
The authors find that for the years 2004 to 2014, with the exception of one period, equity fund managers of the two political affiliations did about the same. [skip]
A second conclusion is that for one critical period of time, December 2008 to September 2009, the Democratic fund managers did much better. They earned 25.25 percent on average, compared with the Republicans’ 17.17 percent — a difference that, by the authors’ back-of-the envelope calculations, amounted to about $13.7 billion.
Needless to say, Paul Krugman told him so.
Also
a separate (and harder to explain) period of superior Democratic performance from May 2003 to September 2003, when Republicans controlled the major branches of the federal government.
The data sample contained no comparable periods in which the Republicans did better, though I have heard anecdotal reports that conservative and libertarian-leaning managers had a much superior understanding of the late 1970s and the Reagan recovery of the 1980s.
Ah yes the Reagan recovery. Note the data which show superior performance by Democrats and the anecdotal reports or Republican superiority. Also note that for Republican economists, it is always 1973-1991 (except for 1981-2 which doesn’t count).
I would not think that fund managers would pay any attention to the headlines of either party. Maybe Republicans are just more likely to drink the Kool Aid.
Maybe the dems do more corrupt insider trading. 😀
You are getting warmer and more to the point as to why Bloomberg is such a staunch HRC supporter. All you have to ask is did Eric Holder convict anyone related to the Wall St collapse? No. did the NY Fed. do their job ? No. Did the SEC do their job? No. The oligarchs do not care if you are a Dem or Rep they only care if their mail-message of false economic policies of control gets carried out. Why do you think we are at interest rates are zero bound today with no GDP growth, 5% unemployment and a 62% LPR economic policy. This is all the smoke and mirrors economic of the Obama-Clinton false economic policy. Don’t get caught in the weeds of deception and distortions of reality that we are currently getting that will reassure the oligarchs control of everything. Now, today , only Trump has the wisdom, fortitude and ability to change the dynamics of what is happening to our country…