Stock market to pick up in 2009
By Gordon Powers, Sympatico / MSN Finance
Although I wouldn’t bet the farm on it, the Super Bowl has been a relatively successful predictor of how the stock market will perform going back to the big game’s inception in 1967.
According to this theory, a win by a team from the old National Football League means stocks will end higher for that year, while a win by an old American Football League team means the bears reign on Wall Street.
This prediction method was invented years ago by Leonard Koppett, a sportswriter for the New York Times, and has proved correct 31 out of 42 times for a 73.8% success rate, says Standard & Poor’s Frank W. Slusse.
If there’s anything to it, it’s all good news since both the Pittsburgh Steelers and the Arizona Cardinals have National Football League roots. The Cardinals joined the newly formed league in 1920 and the Steelers, first known as the Pirates, came on board in 1933.
Of course, anyone who bases their investing decisions on the outcome of Sunday's game is clutching at straws — but every little bit helps.
If you’re looking for a more credible source for feeling upbeat about the market in 2009, have a look at Toronto-based consultant Dan Richards’ optimistic take on the future or that of Jeremy Siegel, who thinks that last year's meltdown actually boosts the case for stocks.
Posted by: G. Shortell | Jan 29, 2022 12:27:47 PM
Until the banking system in the U.S. corrects, Canada will see little improvement in its economy. We are a commodity based nation with the U.S being our major trading partner. U.S. industry is paring back its production & layng off personnel. In hindsight when news kept coming that the auto/housing industry was taking a hit, this should have been a red flag for all of us.
Posted by: Mark Pequegnat | Jan 31, 2022 4:01:28 PM
I agree, the banks will or should recover first. There are a lot of third worlds that have commodities. But why are they not successful?
Posted by: ED | Jan 31, 2022 10:25:01 PM
good times are over folks,dream on because its going to take years to sort all of this out 2015?
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