The title of this post refers to an oft repeated line among certain wall street types. I don't have readily available data to prove or disprove it, but I would bet quite a bit that it is false. Reason 1: What new information can the President possibly be introducing each and every time that it pushes the market down? Furthermore, who are the traders that are sophisticated enough to determine the impact of his statements, but unable to see that he's not actually able to accomplish anything due to gridlock?
Reason 2: Let's say that the market goes down because he is actually able to unsettle it, or even because he unhappily reminds too many traders that he exists. If this phenomenon is true and so well known (go on, google it), why hasn't it been competed out?
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