Vice Versa

Reader comment on: Grover Norquist on the Congressional Effect Fund

Submitted by Ed Thompson (United States), Mar 11, 2011 10:38

I was having dinner with the founder of the Congressional Effect Fund last night, when my Future of Capitalism arrived.

Grover Norquist stated: "You know, there's an investment fund that goes into the S&P 500 when Congress is in session and into cash when Congress is out of session. They've got a study showing the market rises more rapidly when Congress is out of session. It's 17 times more rapid."

Actually, it is the other way around. The fund goes into the S&P 500 when Congress is OUT OF session and into cash when Congress is IN session. Interestingly, the fund is rated sixth out of more than 1,000 funds in its class.


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