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The Holy Grail of investing has been found: get elected to the U.S. Congress.
According to an academic study published Wednesday in the journal "Business and Politics," members of the House of Representatives outperform the average stock-market investor by 55 basis points a month, or 0.55 percentage points, according to the Washington Times, which brought it to my attention. Extrapolated over a full year, that figures to an extra 6.8% per annum after compounding -- better than hedge-fund superstars.
To add just 68 basis points, let alone 680 basis points, consistently makes you the equivalent of a lifetime .300 hitter ...
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“ I have been investing on this assumption for some time, and recently increased our allocation to commodity producing countries' currencies. Our "equity" portfolio now is fully 50% in commodity proxies, in spite of the recent downturn. This kind of input from Alan Abelson is most welcome. ”
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