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The Compound and Friends

How Will Impeachment Affect the Stock Market (with Josh, Michael and Eddy Elfenbein)

The Compound and Friends

Josh Brown

Business News, News, Investing, Business

4.72.2K Ratings

🗓️ 27 September 2019

⏱️ 21 minutes

🧾️ Download transcript

Summary

House Majority Leader Nancy Pelosi announced the beginning of formal impeachment proceedings of President Trump. As investors, it's important to remember that we don't have a lot of history to go by in terms of what impeachment might mean for the stock market and the economy. But there are some important takeaways from past impeachments of Richard Nixon and Bill Clinton. Crossing Wall Street's Eddy Elfenbein stopped by to talk about what the impeachment announcement actually means for investors in stocks and bonds. Eddy is a market historian, prolific blogger and an equity fund manager based in Washington, D.C.. You can check out his site here: http://www.crossingwallstreet.com/ And follow him on Twitter, where he is both hilarious and insightful on a daily basis: https://twitter.com/EddyElfenbein 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/     #Stocks #StockMarket #MakeMoney #Wealth #HowToInvest #Investing #Money #Trading #RetirementInvesting #FinancialAdvice #InvestmentAdvisor #FinancialAdvice #PersonalFinance Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hey, I'm Josh Brown. We are live from the compound. I'm here with Michael

0:04.0

Batnick and our friend Fast Eddie Elfenbine, legendary billiards player and all around,

0:10.7

what do you call yourself a Rat Con Tour? Yeah, pretty much. Oh yeah. All right. Well maybe get into that but today

0:16.0

we're going to talk about the effect of impeachment on the economy and the stock market. We're going to really dive in here and look at the historical

0:24.8

examples I think you'll learn a lot stick around all right first of all

0:29.6

Eddie you're in town from Maryland DC DC. It's very important that you make that distinction.

0:36.3

Yes. Okay. Why? Because we don't have voting rights in DC. We're not a state.

0:40.8

So we have to make that clear no senator no rep got it so DC

0:45.2

right now is on fire effectively and it looks like the Democrats are going to

0:52.0

move forward with formal impeachment

0:54.3

I guess investigation be the way to put it yeah they're opening an investigation

0:59.2

of impeachment which is sort of an odd way to do this but I think Nancy Pelosi has a base she needs to

1:05.8

play Kate and for the first time I think they really have some.

1:09.5

You don't think she wants to do it you think the party is pushing her to do it because they we've

1:13.8

reached some sort of tipping point absolutely and even a O. C you know the Congresswoman she

1:18.4

made noises about that so I think there's pressure coming on Pelosi.

1:23.4

Okay, so she's going to do it.

1:25.0

It seems as though she said she's going to do it.

1:27.3

So this is an investigation of impeachment.

1:29.6

It's not the actual impeachment.

1:31.8

Which is a very odd standard, but yeah, that's what they're opening the investigation

1:37.1

to see if they can investigate which impeachment and those proceedings is an investigation anyway.

...

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