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Stock market: Eric Trump nails buy call made during February sell-off

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Eric Trump
Eric
Trump appears on the “Fox & friends” television
program.

AP/Richard
Drew


  • Eric Trump, the younger of President Donald Trump’s
    adult sons, said stocks were a “buy” on February 9, 2018 — the
    day the market tumbled into a correction.
  • His call coincided with the lowest S&P 500 close of
    the year and the index

     has since rallied
    more than 11% — to a record high.
  • Trump’s call still pales in comparison to the one made
    by former President Barack Obama.

Eric Trump nailed his stock-market call. 

Back on February 8, the stock market had just
tumbled into a correction
 — a 10% drop from its recent
highs — amid
fears the Fed would have to hike interest rates more
aggressively
than it had been telling investors. That when
Trump, the younger of President Donald Trump’s two adult sons,
bravely declared that stocks were a good buy.

“The market’s going to continue to look incredibly, incredibly
strong,” he
told Fox Business
. “I think actually, right now, is probably
a great period to buy.”


Eric Trump
Markets
Insider


It just so happens that Trump made the call to “buy” stocks less
than two hours after the S&P 500 put in its lowest close of
the year. Since then, the S&P 500 has rallied more than 11%
to break the record high of 2,872.87 set on January 26. 

And while Trump’s call was a good one, it pales in comparison to
the one made by his father’s predecessor — former President
Barrack Obama.

Back in March 2009, during the darkest days of the financial
crisis, Obama made what could possibly be the
greatest stock-market call in history
.

On March 3, 2009, he told reporters: “What you’re now
seeing is profit-and-earnings 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.” 

Three days later, the S&P 500 put in what may be a
generational low of 666.79. The index has since rallied an
astounding 331%, and is in the midst of what will become the
longest bull market in history, as measured by its rise from the
trough hit in March 2009, on Wednesday. 


Obama stocks
Markets
Insider


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