Last night's tightly contested 87-81 victory by the Los Angeles Lakers was bad news for Boston Celtics fans, Kobe Bryant haters, and investors.
Wait -- investors?
An item in The Wall Street Journal's MarketBeat column last week examined how the market fared during the most recent championship-streak runs by both teams. Between 1959 and 1966, when the Celtics pulled off an amazing string of eight NBA titles, the Dow Jones Industrial Average inched 35% higher. When the Lakers won three in a row from 1999 to 2002, the Dow actually slipped by 1%.
Superstitious investors can still breathe easy. The Celtics still command a 2-1 lead in the best-of-seven series. Then again, those same investors may as well take some time to smack their foreheads, in hopes of knocking some sense into their skulls.
The data nugget is a humorous throwaway, a conversation starter -- but not an investing guide. Just as there are people that stupidly believe that the market's direction will hinge on which NFL conference wins the Super Bowl, I'd hate to think that the Celtics are gaining new fans from the ranks of nail-biting investors.
When Punxsutawney Phil sees his shadow, do you see department-store chains like Macy's
Are investors supposed to believe that the Lakers outscoring their opponents somehow brought on the dot-com bubble burst? Please.
Are there any investing implications behind the series? Yes. Disney's
Beyond that, everything else is just an airball.
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