contributor Morgan Housel chimes in about what investors should do now that the election is in the rear-view mirror. 

The Dow Jones Industrial Average (INDEX: ^DJI) fell hard following the election, which may suggest that Wall Street is bearish on Obama's second term. However, Morgan douses the bears in cold water with a potent example of missed stock market predictions from 2008. As he reveals, not only did many not come true, but in fact, they had the opposite performance than people had expected.

Austin Smith has no positions in the stocks mentioned above. Fool contributor Morgan Housel has no positions in the stocks mentioned above. The Motley Fool owns shares of Bank of America and JPMorgan Chase. Motley Fool newsletter services recommend Chevron and First Solar. Try any of our Foolish newsletter services free for 30 days.

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