Obama’s Stock Market Legacy Is Hard to Beat
U.S. stocks delivered far better returns under Mr. Obama than almost any previous president, and the performance was well ahead of the rest of the worl
By JAMES MACKINTOSH
(The Wall Street Journal) –After eight years in office, Barack Obama has a market record any red-blooded American capitalist could be proud of. U.S. shares have soared, oil prices have come down, borrowing is cheap and profits are up along with the dollar. Even those who bet against President Obama made good money, with returns from gold and bonds better than those delivered by shares under his predecessor, George W. Bush.
These aren’t achievements likely to cut much ice with the Democratic Party, and the perception that the rich got richer at the expense of American workers surely helped Donald Trump, who has promised to dismantle Mr. Obama’s flagship policies after he is inaugurated as president on Friday.
Historians, economists and politicians will clash for years over the Obama legacy. But for investors, it has been a great time to bet on America. U.S. stocks delivered far better returns under Mr. Obama than almost any previous president; performance was also well ahead of the rest of the world.