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I think it's a little announcement.
-- an Election Day rally right -- ends -- honest accident points and got Todd Schoenberg the black favorite managing principal.
Perry -- bump up some capital management president joins us now Gary are right.
You're worried about 2013.
No matter who wins -- really care ruins today -- Well I think the market's gonna do it wants to do into the -- the year we have but seasonal strength going to -- with the Fed printing off forty billion dollars a month.
Put typically the year after presidential election.
Not very good and earnings are black sales growth has -- I think that's gonna catch up in 2013.
A -- a government spending Todd that's 20% of GDP I mean at this point.
If fact it's scaled back what you believe it will -- -- no matter who wins and then you've got lackluster earnings news coming out of a lot of these companies this quarter that's that's gonna be market -- as second half.
Happen next year will be Cheryl -- the markets -- rallying right now because we're going to have hopefully certainty because by tonight we will know who's gonna occupy the White House for the next four years that's why stocks are rallying it's not an Obama rally Romney rally.
Both guys are gonna see the market -- -- -- Right away.
Next -- gonna be what's in question look you have an Obama presidency right now he -- to promote with the stimulus -- leaning on the Fed to do things with accommodation.
We had multiple rounds of quantitative easing that's great for the stock market.
Romney though it's probably gonna bring that back.
Scary you say that -- a lot has received these post election had dropped to the market how do you figure forty get up from.
Well I don't know I think this is -- by the way I think this is an Obama rally I think the markets predicting he's gonna win.
Just remember -- Obama you have this fed printing.
You know trillions of dollars.
And you know just spending you know left and right so I think that's what's going on here but as far as the rest of the year.
We are now when seasonal strength November December so I don't think we can drop right here I think the most important part about today what do you think this chicanery going on or not.
Is that thirteen thousand on the Dow held and also 14100 the F some.
And as long as those areas stay up up above those -- as long as the market stays above those levels good news and also financials a Spartan reassert themselves again which is nothing but good news.
How does show look at says a look at this is a twenty -- -- -- and the S&P 500 and this shows.
How these markets perform after each and every election if you go back and look back magnetic 31997.
I mean these are what we had strong markets no matter what we had we Republicans we at Democrats it was about the presidency time.
Well Obama actually the one thing about Obama though is that you look at -- stock market performance he's actually enjoying the fifth best performance of all time for first term president doesn't matter what -- party as you can say it's -- -- -- say it's -- fed whatever going forward you have to suggest that he is going to be reelected that's going to be -- -- the issue though is that you have such as this government has so margin right now.
You have to assume that we will hit a brick while there's not one personal loss here right now that thinks that this rally today is anything to do with president -- -- -- that's not.
Robert -- viewers of the -- that we just showed -- was that governor Romney is running mate Paul Ryan at this point going into world are -- going.
Label and our right Ohio there you go about their descendants going to be all about Ohio there you go when all our viewers and that's -- minorities not pick playing pick up basketball right now -- plus plus an accident house -- carried out because of the at the at the end of the day.
This country has a lot more to deal what after today the -- the fiscal -- we're talking about taxes regulations everything is being on the table.
And if we do have President Obama reelected that means is gonna be at the congressman at this point we don't think is gonna change that dynamics.
Look like they're gonna most likely be the -- what do you say about how do you deal -- thousand -- What well look the debt eventually implode it's.
They are talking markets with a sixteen trillion.
If nothing is done we're -- be in the twenties in the next four years and I don't know what day we wake up in the market you know bites back just remember.
The housing bubble took two with three years -- happened before that imploded.
And I just think that make any huge mistake here and they're glossing over by the Fed printing money to cover the debt.
And and the bottom line for me is we will wake up one day at what point and the markets are gonna crater in a very big way because we can't -- you gotta think about this.
The next six years of tax Payer dollars have already been spent.
Because of his government and -- if that doesn't change and if they don't get on top of that soon it's just a matter of time.
Todd Schoenberg here Gary -- -- dominant suss I'm out of time thanks to vote and you break discussion market sell looking to.