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Wednesday, March 4, 2020

Wall Street Likes Biden

Well, at least it dislikes Biden a whole lot less than it dislikes Sanders.  I am only mildly interested in the Democratic primary myself, but I found this on my news app and thought it might be of interest to my esteemed colleagues:
https://a.msn.com/r/2/BB10HOOP?m=en-us&referrerID=InAppShare

The stock marked has been extremely volatile lately, mostly due to the Coronavirus scare, but it seems that the Bernie Sanders scare has also been a contributing factor.  The health care sector in particular breathed a sigh of relief when Biden moved ahead of Sanders in delegate count.  Truth be known, I don't find Bernie's health care proposal all that bad, it's everything else about him that makes me nervous.  Of course it's not a done deal yet, but Wall Street is notorious for panicking in advance of a traumatic event, and forgetting it by the time the thing actually happens.  As Louis Rukeyser used to say, "Sell on the rumor, buy on the news."

"Let me say this about that.  Nothing.  I will let stand what is standing." - Uncle Ken
Sorry Uncle Ken, but your argument has already been debunked.  Ipso facto, case closed.  I guess this is the way we're doing it nowadays, if you hear something that you don't like, just debunk it and that makes it go away.  Works for me.  Living in de valley of denial is not so bad, 50 million Egyptians can't be wrong.



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