BusinessWeek is just out with the obligatory reminder that a Democrat as president is not the end of the world for the stock market (hey, it could even be a buying opportunity!). Gads. The fact is (you can look it up) over the last 50+ years, Democrats in the White House have been better (far better) for the stock market than Republicans.

The most head-scratching part in the article: "surveys have found that 70% to 80% of portfolio managers believe Bush will be reelected." I work for an investment management firm and I can vouch for these numbers. I remain baffled when I hear the majority of my co-workers confidently muttering that Bush will win -- despite Kerry often leading in the polls. I can't tell if it's denial or wishful thinking. Not that Kerry is a lock, but whereas we're paid to be skeptical and pragmatic, it seems like when it comes to politics in the world of Wall Street, it's OK to dream.