Is Santa Claus Coming to Town?
At this time of year, the stock market is anticipating a Santa Claus Rally. This much-debated effect, to the degree that it actually exists, is supposed to propel the market higher in the last days of the year.
"If Santa Claus should fail to call, bears will come to Broad and Wall."
However, Santa's Stock Portfolio(TM) is looking rather holly jolly. Beginning in 2002, Amegy Bank of Texas have tracked a list of Santa's "personal" stock picks. Given his line of work, Santa zeroes in on the consumer discretionary and personal technology sectors. Through December 13th, his 2007 portfolio is headed north (North Pole?) to the tune of 28%. If you'd had Santa for your financial adviser, you'd have a five-year average return of 34%!
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