Obama: Buying Stocks Is A Potentially Good Deal - Business Insider

Heck of a call, Mr. President!

Obama: Buying Stocks Is A Potentially Good Deal - Business Insider: "So, that's not much. But it's not nothing. Presidents don't usually talk about stocks.

In a new note to clients, Goldman Sachs' David Kostin remembers another time Obama talked about stocks. From the note:

Some investors may remember Obama’s previous equity valuation comment from March 3, 2009 when the S&P 500 traded at 696: ”On the other hand, what you're now seeing is profit and earnings ratios are starting to get to the point where buying stocks is a potentially good deal if you've got a long-term perspective on it.” Since his observation, the S&P 500 has soared by 185% and this week reached a new all-time high of 1988.

March 3 was six days before the S&P 500 hit an intraday low of 666.

That was a pretty extraordinary call."

'via Blog this'