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Trump's "Make America Great Again" Promise Is Already a Boon for This Favorite
We don’t follow Wall Street’s lead, but we love it when it follows ours.
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William (Bill) Patalon III is the Executive Editor and Senior Research Analyst for Money Morning. Before he moved into the investment-research business in December 2005, Bill spent 22 years as a journalist, most of it covering financial news as a reporter, columnist, and editor that included stints with Gannett Co. Inc., and The Baltimore Sun.
Bill has covered finance and investing, economics, manufacturing, the defense sector, biotechnology, and telecommunications. The companies he’s covered include Eastman Kodak, Xerox, Harley-Davidson, Caterpillar, Westinghouse Electric, Verizon, MedImmune, and Black & Decker.
His most-memorable interviews include: former President Richard M. Nixon, General Electric CEO John F. “Jack” Welch, Forbes magazine publisher and former Presidential candidate Steve Forbes, and business-turnaround specialist and helicopter-industry pioneer Stanley Hiller Jr.
It was Bill’s work covering Eastman Kodak Co., during the last half of the 1990s that solidified his reputation as one of the nation’s top analytical business journalists. With his award-winning reports on Kodak’s competitive travails, he consistently scooped his competitors in the national business media. His chronicles of Kodak’s turnaround efforts took him to China, Japan, Silicon Valley, New York, Washington, D.C., and even Hollywood.
His work has appeared in Kiplinger’s personal finance magazine, USA Today, and The South China Morning Post, among other publications. A winner of approximately two-dozen journalism awards – including top honors from The Associated Press and the prestigious Society of American Business Editors and Writers (SABEW). Patalon is also the co-author of the Prentice Hall book, "Contrarian Investing: How to Buy and Sell When Others Won’t and Make Money Doing It." Before taking over Money Morning, he served as the editor of The Rebound Report, an investment newsletter focusing on turnaround stocks.
Today Bill is the creator and editor of Private Briefing. With his latest project, he takes you "behind the scenes" of his established investment news website for a closer look at the action. Members get all the expert analysis and exclusive scoops he can't publish… and some of the most valuable picks that turn up in Bill's closed-door sessions with editors and experts.
Bill has a BA in Print Journalism from Penn State University, and an MBA in finance from the Rochester Institute of Technology.
We've just been through a very healthy post-election rally that pushed the S&P 500 up a bit more than 6%, as of this week.
The history buffs out there, like me, will note the S&P 500's "Trump Bump" was a little less than twice as powerful as the 3.7% shot in the arm Franklin D. Roosevelt's election dealt the index, but a bit less than half as potent as the ripping 13.29% rocket ride Herbert Hoover's victory "catalyzed" on the S&P 500 between his election in 1928 and his swearing-in.
But… we all know how that rally ultimately played out for investors of Hoover's day.
At his inauguration on March 4, 1929, "the Great Engineer," as Hoover was called, could rightly boast of huge market gains. And of course barely eight months later, by Oct. 29, the U.S. stock market was a smoking ruin, closing the door forever on the Roaring 20s and lifting the curtain on the Great Depression.
Now, I'm not saying we're in for a repeat performance. Not at all. But I am conscious of the history, and as a dyed-in-the-wool contrarian, I'm inclined to prepare for the worst, especially if the good times are rolling.
Besides, I agree 100% with our Chief Investment Strategist, Keith Fitz-Gerald, when he says that, "Chance favors the prepared mind."
So even if it's the farthest thing from your mind, there's no time like right now to take in a few of what we here at Money Map Press like to call "Downturn Lessons." They'll not only save you a lot of heartache when the weather changes, but you'll be in a much better position to make money at a time when nearly everyone else is losing it.