“Buying stocks is a potentially good deal if you’ve got a long term perspective.”
President Barack Obama, March 3rd, 2009
OMG, the President of the United States just called a bottom in the stock market! Talking about Price to Earnings multiples and everything!
After Obama made the above statement, Henchman Rahm Emanuel started flickering the lights and Barack started taking calls, rapid fire, one after the other and hittin’ sound effect switches like a demon!
Caller: Ba-Ba-Ba-Boo Yah Barry! Just picked up some Lockheed Martin, what’s your long and short-term outlook?
Obama: I would dump it, we’ve got a request for proposal from LMT for an aircraft carrier, I’m gonna kill that deal this week…SELL SELL SELL!
Caller: Big Birmingham Boo Yah to you from down here in Alabama, my question is on Freeport McMoRan, buy, sell or hold?
Obama: NO, Freeport is soooo right here, copper at a one month high, I’m sending Biden to China to get these guys in order, I need you IN Freeport Mac, NEXT CALLER!
Caller: Hey Barry – BOOOO YAAAAHHH!
Obama: Done your way, what’s your stock?
Caller: What’s your long and short on Trinity Industries, ticker TRN?
Obama: SELL SELL SELL! Look at my alternative energy plan, wind is NO GOOD here, I want you out of the Trinity and into First Solar, FSLR home gamers!
Ok, I could do this forever, but you get the point…there are horses that can count and hens that play tic tac toe, and now finally, after 8 years of pikerism, we have a stock picking president!
Full Disclosure: I am currently long FCX and FSLR in client accounts