International investors get scared and pull their money out of these stocks. They don't know what impeachment is, they don't care about the fine points. But they're scared.
More Quotes from Peter Canelo:
The market isn't cheap. But I think strong participation from foreign investors is helping and the (planned) cut in the (U.S.) capital-gains-tax rate makes the market cheaper.Peter Canelo
Foreign investors tend to be worried when there is talk of impeachment because they don't always understand our system. That is important because it was precisely Europe that contributed heavily to buying in the U.S. I don't know if they are selling right now necessarily, but it's a pretty good bet that they are not buying.
Peter Canelo
You miss out in a bull market and you basically break even in a bear market.
Peter Canelo
I think the market is clearly getting used to the idea that the Federal Reserve is going to raise rates. I don't think it's a question anymore of whether they do it in March or not. If they don't do it in March, they (will) do it in April. The real question now is how much do they do it (and) when they do it.
Peter Canelo
The market is very relieved that a Democratic Congress won't be putting pressure on tobacco, and that it won't be trying to cut the budget at the expense of aerospace defense. It's happy that health care prices won't be contained by a Democratic Congress.
Peter Canelo
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