Can a President Move the Market?

"What you're now seeing is profit and earning ratios are starting to get to the point where buying stocks is a potentially good deal if you've got a long-term perspective on it."

Yesterday's remarks by the Market-Timer-in-Chief were all over the news last evening and this a.m. Will investors now hiding in T-bills consider buying equities as a result of the President's advice?

Before you answer, better take a look at our prescient post from August, 2007. Remember that unexpected commotion in the White House rose garden?

“I believe that markets ultimately look at the fundamentals of any economy,” Mr. Bush said at that time. “And the fundamentals of our economy are strong."