I’ve posted Entry #182 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called The Real Reason Obama Is Having a Rough Presidency.
Juicy Excerpt: At times when valuations are on the increase, spending power is being pumped into the economy. At times when valuations are on the decrease, spending power is being removed from the economy. Voters care about economic results more than anything else. Any President who serves at a time when valuations are on the way downward struggles against a headwind. Any President who serves at a time when valuations are on the way upward enjoys a strong wind at his back. P/E10 values alone don’t determine which presidencies succeed and which one fail. But they can be a big factor.