Posted on 06/13/2010 8:42:37 AM PDT by blam
Is The World Cup About To Destroy The Global Economy?
Damien Hoffman
Jun. 11, 2010, 3:36 PM
Europe is hanging by hinges. Emerging markets lie in the balance. If all these fragile economies grind to a halt during the World Cup, will the celebration harm markets?
Our friends at Bespoke Investment Group are out with a cool study analyzing the historical performance of the SP 500 (NYSE: SPY) and MSCI World Index during and after World Cups. BIG notes, “The S&P 500 has averaged a decline of 1.65% during all 18 prior World Cups, and a decline of 0.37% in the three months following. The MSCI World Index, which we only have back to the 1970 World Cup, has averaged a decline of 1.25% during and 4.34% over the following three months.”
(This post originally appeared at the Wall Street Cheat Sheet.)
[snip]
(Excerpt) Read more at businessinsider.com ...
Looks like after the World cup the markets sometimes go up a little, sometimes they go down a little, sometimes they go up a lot and sometimes they go down a lot. Doesn’t look like much of a pattern of market decline to me.
I think Damien Hoffman has his panties in a particularly painful twist.
Now if the the White Sox win the world series *then* we’ll know the end of times is at hand.
‘Twas nice to draw England, gotta admit that.
The Chicago Cubs, the most losing-est team in all of professional sports the entire history of sports.
I think IIRC, the Cubs winning the World Series, is listed as a birthpang such as earthquakes and wars, before the return of Christ. Or maybe one of the 7 bowl judgements, I forget.
The chance of those numbers being zero is just about zero.
They are going to some number other than zero. The fact that they are, and the fact that the stock market can easily go up or down 1.67% on any single day says that this is just another misuse of statistics to "prove" something that is ultimately random.
I am guessing one “Damien Hoffman” is desperate for a headline and needs to find a new profession.
Thanks. Meant to write ‘Cubs’.
Or my beloved Giants.
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