In a message dated 11/3/04 6:54:43 AM, [EMAIL PROTECTED] writes: >In the end the important question is comparative - are there any other >institutions that on average do better? So far direction comparisons >between markets and other institutions in the field have favored >markets. And real and play money have come out about the same. But the >jury is still out.
Robin, In this case, were the markets closer than the polls taken right before the election? Were they closer than the exit polls? The exit polls seemed to systematically inflate the numbers for Kerry, and it looks like the markets' optimism about Kerry early in the day reflected the exit polls. I'm not sure what if anything that says about markets vs. other institutions in this case, but I'd be interested to know what you think. David
