Do stocks perform better when Congress is out of session?
UMB CIO William GreinerMany of us in the financial services industry look for indicators to give us a clue as to what may happen in the markets. In many cases, these indicators are historically based according to how the markets have responded to significant variables in the past. Our writings tend to be serious. The role of advising clients concerning their life savings is very serious business. However, once in a while we uncover data or ideas which, while whimsical, are too interesting to let pass without comment. Contrary Indicator While on a flight to the West Coast, I happened to uncover information from Eric Singer, which was published in a recent issue of Forbes magazine. Mr. Singer is a fund manager who has worked for Paine Webber and Smith Barney. (Remember those two ghosts from Wall Street?) He has created something which he calls the “Congressional Effect Fund.” Essentially, he has attempted to measure how the U.S. stock market has performed while the U.S. Congress is in se
