These Democrats really know how to invest don’t they? They’re just a bunch of real investor class wealth-creating capitalists aren’t they?
According to today’s New York Times, Obama was out buying $50,000 worth of stock in two highly speculative companies whose biggest financiers were his own political donors. One of them by the way could be an Albany, NY crook named Jared Abbruzzese, a guy who’s been playing footsy with Republican State Senate majority leader Joe Bruno. He’s now in the middle of an FBI public corruption investigation and was also a contributor to Swift Boat Veterans for Truth.
Nothing wrong with that, it’s just that Obama’s investment strategy tells the story about a guy who doesn’t get it.
When Obama found out about the sleaze factor, he sold the shares for a $15,000 loss. This was in 2005, roughly midway in one of the great bull markets of all time. How about a nice safe broad stock market index fund? It would have doubled if Sen. Obama had bought it immediately after Bush’s tax cuts on capital gains and dividends.
I’ve got to hand it to these Democrats. They’re really in touch with the 100 million plus investor class and the stock market.
On another note, it wouldn’t surprise me if Hillary Clinton’s people leaked this story.
Like Obama, Hillary happens to be another ace investor—a real all-star. Once upon a time, back in the days when disco reigned supreme, Hillary put up a measly $1000 bucks, money which was shepherded by some Clinton fundraisers in the commodity business. Remember? Ten months later, Hillary’s $1000 dollar cattle future “investment” magically morphed into a $100,000 profit. (Eat your heart out Boone Pickens.)
10,000 percent profit in less than a year—makes Obama’s $13,000 stock loss look like chicken feed doesn’t it?
Of course, Queen Midas later told investigators there was no inside fix for her cattle futures investment (wink-wink). According to Hillary, she carefully read the Wall Street Journal commodities page every day. Remember that one?
Recently, however, Mrs. Clinton has been advising foreign governments not to buy U.S. Treasury bonds. This Hugo Chavez-like capital controls idea—one which would lethally damage America’s financial position—must undoubtedly reveal Mrs. Clinton’s current investment strategy. Next thing you know, the New York Times will be reporting that Hillary has been shorting Treasury bonds in advance of her brilliant campaign of financial protectionism.
If one of these Dems ever became president, it makes you stop and wonder about the fate of stock markets and economy.
Not good I would think…