There is a BusinessWeek article that notes “Shares of companies whose CEOs dine with Obama outdo the S&P.”
I have a quote in that I would like to clarify:
“Just a coincidence? Only partly, says Barry Ritholtz, CEO of equity research firm Fusion IQ. Losers don’t get asked to hang out with the President, he says. The White House likely is putting together invitation lists so that the President is dining with executives at the top of their games and not associating with companies in decline or under investigation. “If the captain of your team gets a phone call from the White House, it probably means your team is about to win the World Series or already has won,” Ritholtz says.”
What I inartfully was trying to express was that it is not a coincidence at all. I am not sure it comes across, but the point is there is an inherent bias in the selection of these company CEOs — and that the selection process itself guarantees this was not a random group of stock picks. (Statistical invalidity and all that).
>
Source:
Stockpicking Tips from President Obama?
Nicholas Johnston
Business Week July 22, 2010
http://www.businessweek.com/magazine/content/10_31/b4189029842370.htm
What's been said:
Discussions found on the web: