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Trade the Congressional Effect: How To Profit from Congress's Impact on the Stock Market Hardcover

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Product Details

  • Hardcover: 224 pages
  • Publisher: Wiley; 1 edition (October 9, 2012)
  • Language: English
  • ISBN-10: 1118362438
  • ISBN-13: 978-1118362433
  • Product Dimensions: 9.3 x 6.4 x 0.9 inches
  • Shipping Weight: 14.4 ounces (View shipping rates and policies)
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (3 customer reviews)
  • Amazon Best Sellers Rank: #1,726,414 in Books (See Top 100 in Books)

Editorial Reviews

From the Inside Flap

"From 1965 through 2011, measuring each of the 11,832 trading days during that period, the price of the S&P 500 Index rose at an annualized rate of less than 1% on days Congress was in session, but over 16% on days they were out of session."
—From Chapter One

The Congressional Effect—when Congress is in session, there is a negative effect on equities markets—is based on solid historical research. While the statistics prove the validity of the Congressional Effect, the reasoning behind it is most probably due to investor uncertainty concerning government action or inaction as well as the unintended consequences of Congressional legislative initiatives on the stock market. In Trade the Congressional Effect, Eric T. Singer—a financial professional with over twenty-five years of experience and an expert on this phenomenon—offers guidance on how you can put this effect to work for you.

Throughout the book, Singer offers an in-depth examination of the Congressional Effect and recommends several strategies for how to optimize your portfolio. Once you understand the nature of the incentives that each politician proposes (which collectively result in Congress relentlessly working against your portfolio), you can better use their efforts to your advantage. Step by step, Singer walks you through the process and provides practical guidance regarding the possible pitfalls and opportunities you'll face when using this technique.

Supported by more than forty-five years of real-world data, the Congressional Effect has proven profitable to those who know how to use it. This timely guide will show you exactly what it takes to make this phenomenon work for you.

From the Back Cover

Praise for Trade the Congressional Effect

"Once in a while, an idea, a small gem, comes along that reflects the whole world. Singer's book is it, a thesis to live from, learn from, and make money from. Singer provides that which we all long for: a way to make money from political insight."
—Amity Shlaes, author, The Forgotten Man

"Thanks to Mark Twain, we know that nobody's 'life, liberty, or property is safe while the legislature is in session.' Now, thanks to Eric Singer, we know why, and what to do about it. In these pages, he admirably succeeds in the important task he has set for himself. To wit: how to protect yourself, and your net worth, from the depredations of Congress. "
—James Grant, Editor of Grant's Interest Rate Observer

"The author's straightforward idea—that Congress harms wealth creation—provides many insights into politics, the economy, and investing. Trade the Congressional Effect will appeal to serious investors, as well as policy wonks and libertarians ... but it should be taken to heed by the 535 men and women who pass some of their days on Capitol Hill. Some surprising insights—a devastating attack on Modern Portfolio Theory ... a look at what caused the Great Depression ... Congressmen as traders and speculators ... the effect of split governments, lame ducks, and litigated elections on the stock market ... Reading Trade the Congressional Effect will provide much guidance about Congress's 'unintended consequences' that are so persistent, casually dangerous, and impoverishing."
—Adrian Day, President, Adrian Day Asset Management

More About the Author

Eric Singer manages the Congressional Effect Fund (CEFFX), a public mutual fund launched 2008 through his registered Investment Advisor, Congressional Effect Management. He was the first to document the general effect of Congress on daily stock prices in an article published in Barron's in 1992. Since then the idea has attracted additional support and evidence from both the financial and academic communities, and acknowledgement from the academic community about his discovery of this phenomena.
Mr. Singer has been a finance professional for over 25 years. Before starting his mutual fund, his practice focused on raising funds for, and investing in, small cap public companies. During the 1990's, he was head of Corporate Finance at Gerard Klauer Mattison & Co., a research oriented brokerage firm. In the 1980's, he launched a corporate finance new products group at Smith Barney, and headed a similar group at PaineWebber. He also practiced law for several years and developed the Empire Hotel in New York City.
He is a frequent op-ed publisher in Investor's Business Daily as well as Forbes, American Spectator, American Thinker, Townhall, Seeking Alpha and Newsmax, and has appeared on national TV and Radio programs.
He was graduated from the Bronx High School of Science, SUNY at Stony Brook, where he was Phi Beta Kappa, and Cornell Law School, where he was on Law Review. He is married to Aet Paaro Singer, his wife of 37 years, and has two children.

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Most Helpful Customer Reviews

5 of 5 people found the following review helpful By Lee B on October 29, 2012
Format: Hardcover
I do a lot of my own investing in competition with my financial advisor. I bought this book because I wanted to know how Congress affected my stocks. It turns out that Congress has hurt them quite a lot. Over a very long period of time the market goes up 1% when Congress is is session, but 16% when they are on vacation. What??? For real??? Before, I never understood the connection between new laws and industries going down. New laws equal danger for your portfolio. This is a very readable book which made some technical Wall Street stuff understandable, including why the Modern Portfolio Theory is mostly useless. I especially liked the introduction to behavioral economics, as malpracticed by Congress. I especially disliked Congress after reading this book. I think it's a good idea to read it ahead of a new Congress, which is going to change a lot and soon. You will not like Congress more after you read it, but you will feel like you have a few new ways to protect yourself.
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3 of 3 people found the following review helpful By Rebecca Eaton on November 2, 2012
Format: Hardcover
Singer has brought fresh insights to the risks that Congress poses for equity investors. Presenting impressive historical data and insights, this book can help with both long term investing strategy and market tactics. A valuable addition to any trading library.
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1 of 1 people found the following review helpful By Peter Brown on October 3, 2013
Format: Kindle Edition Verified Purchase
There's investment books and there's timely epic publications that are great books in their own right. Value for its content. Timely for taking note of something that's true, the severity of government intervention in the economy--its massive downward pull on the profit motive and the stock market.
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