Bulls, Bears, Donkeys, and Elephants

This chart from the New York Times seems too amazing to be true. It appears that the Republicans, the party of the rich, are historically not too successful at boosting stock market returns. (By showing the Republican figures in red-state red, the Times emphasizes the underperformance even further, perhaps a bit unfairly.)

As of Friday, a $10,000 investment in the S.& P. stock market index would have grown to $11,733 if invested under Republican presidents only, although that would be $51,211 if we exclude Herbert Hoover’s presidency during the Great Depression. Invested under Democratic presidents only, $10,000 would have grown to $300,671 at a compound rate of 8.9 percent over nearly 40 years.