Kass: More on the Business of Politics
This column originally appeared on Real Money Pro at 9:05 a.m. EDT on Nov 2.
NEW YORK ( Real Money) -- After today's opening missive, there will only be two more "More on the Business of Politics" columns before Tuesday's election, but I wanted to qualify this column -- for the last time -- and explain my reliance on FiveThirtyEight -- Nate Silver's Political Caucus as a most important source of election projections.
We are approaching the height of the election season and the stakes are high. The campaigns grow more heated, hyperbolic and more repulsive. Not surprisingly, many feel a need to express our own political views. Political views are like noses, everyone has one.
I have very strongly held political beliefs, but I feel as strongly that my platform in my diary on Real Money Pro is an inappropriate forum for me to deliver and voice my views. As a result, I have long avoided discussing my personal politics on this site -- in part because it is no one's business, and also, you shouldn't really care what my view is.Whenever I mention the election and the markets or mention specific polls (especially Nate Silver's The New York Times poll), the comments section and my email box are filled with personal political opinions from subscribers and from friends. Typically, people automatically infer that since Silver's platform is The New York Times that the poll (and my attention to it) indicates a personal and liberal bias. This is not an accurate representation of the reason why I have chosen and present Silver's blog. Let me remind you that the left-leaning New York Times has conservative contributors to the editorial page and elsewhere, while the right-leaning Wall Street Journal possesses liberal contributors. And just as you shouldn't care about my politics, I frankly couldn't care less what your view is either, but I respect everyone's right to have a view. I just don't think projecting it and venting in a public forum accomplishes much of anything. And while I am ranting, I totally don't understand why wealthy citizens, on both sides of the pew, think that because of their net worth and privilege they should communicate their personal political views in the media (print and elsewhere). Why is their voice, whether Democratic or Republican, implicitly a more important deliverer of message than the fireman, teacher or librarian (who have an equal vote but cannot either afford an advertisement or don't have the celebrity that would cause them to be invited on CNBC, Bloomberg or Fox)? Why do the wealthy seem to have the sense (because they have loads of money) that they are more entitled to state their views in a more forceful and visible manner than those who cannot afford to present their political views? The answer seems to lie in our political campaign funding, which is the cause of more problems than benefits.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV