That prices are frothy and cheery
On the eve of St. Pat,
But decline after that,
When Hibernian eyes are still bleary.
St. Patrick's Day is upon us, and all the sons and daughters of the Emerald Isle are thinking the same thing: what does this mean for my portfolio? With this question in mind, I went to seek answers in the Seeking Alpha blog. There, a laddy by the name o' Timothy Wood posted a wee guide to How St. Patrick's Day Can Make You Money in the Stock Market. Evidently, the market rises by an average of 0.34% in the two days before St. Paddy's. Indeed, in the years between 2006 and 2010, stocks rose during each four-day period from March 15 to 18. As if to confirm Mr. Wood's hypothesis, the S&P 500 rose by 0.6% on Thursday to close above 1400 for the first time in four years. Says Mr. Wood: "This peculiar occurrence is attributed to a rise in mood levels as people await the celebratory day, which encourages investment." In that case - Sláinte!
Dr. Goose reminds you to celebrate St. Patrick's Day responsibly... by listening to Marketplace Money this weekend! Your faithful limericker and host Tess Vigeland will recite tax-time limericks for your pleasure and edification. Check your local public radio listings for the time and station, or download the podcast!