Bush departs with lousy stock stats in his wake

[cal04]

He's first president in 28 years to oversee negative return in broader equities

By Kate Gibson, MarketWatch
http://www.marketwatch.com/news/story/Obama-inherits-battered-market-Dow/story.aspx?guid=%7BB8E78424%2DD7D6%2D4B3A%2DB60D%2D7CF3DF139644%7D

NEW YORK (MarketWatch) -- Wall Street's pummeling on Tuesday highlights the challenges facing President Barack Obama, who is inheriting a stock market that collapsed during predecessor George W. Bush's second term, according to a leading market tracker.

Bush's final week as president left the Dow Jones Wilshire 5000 Index -- as of Friday's close -- down 5.5% on an annualized basis during his second term. In combination with the 1% gain eked out during his first four years, Bush leaves office with the stock market down 2.3%, annualized, over eight years.

The devaluation of the stock gauge gives Bush the dubious distinction of being the first president of the past five to oversee any decline at all, according to Wilshire Associates.

[LakeSamish706]

1. Who's Bush?n/t

[The_Casual_Observer]

2. I don't get the "annualized basis" thing. He came in at 10,500 & left

at 8,000 that doesn't look like 2% to me, no matter how you slice it.