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ANNANDALE, Va. (MarketWatch) -- Obama as successor to JFK's Camelot legacy? That at least is what some political commentators suggested in the weeks and months leading up to Tuesday's presidential election -- though I suspect that the 1,000-point drop over the last two days in the Dow Jones Industrial Average will reduce the number who are inclined to draw the historical parallel. But how did the stock market perform during Kennedy's administration? Did it really perform all that well? It's worth asking the question because we all too readily engage in historical revisionism, often unconsciously. We file our memories of the Kennedy presidency under the category of "Camelot," and in the process assume that everything at that time must have been golden. An ancillary consequence is that, in comparison, what's happening now can... [read full story]
