Table of Contents
Congress's Role in Wealth Destruction
Chapter 1: What is the Congressional Effect?
How Was the Congressional Effect Discovered?
Early Returns Showing the Congressional Effect
The Smoot-Hawley Act: The Mother of All Congressional Effects
The Congressional Effect Data and Launching a Mutual Fund
Chapter 2: The Congressional Effect and the Limits of Modern Portfolio Theory
How MPT Has Been Used by Financial Advisers
Formulas Distort Valuation if Inputs are not Free Market Inputs
What Caused the Crash of 1987?
The Magnitude of the Crash of 1987 Refutes MPT
MPT Assumes All Daily Pricing Is Random, but the Congressional Effect Shows it is not
Chapter 3: Congressmen as Issues Entrepreneurs
The Time-Money-Vote Continuum: Congress as a Business
Congressmen as Traders and Real Estate Entrepreneurs: Making Money Outside Their Day Gig
Chapter 4: Behavioral Finance, the Stock Market, and Congressional Dysfunction
Overview of Behavioral Finance Concepts
Survey of Behavioral Finance Concepts
Congress's Approach to Behavioral Finance
Chapter 5: If Congress is Malfunction Junction, What's its Function?
Economic Lifeblood: Investment Capital Formation, the Stock Market, and Congress
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