Vice VersaReader 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. Note: Comments are moderated by the editor and are subject to editing. Comment on this item |
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