Why Obama's Bullish on Stocks

The President talks P/E ratios.

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It seems pretty unusual for a president to weigh in on Americans' investing decisions. But today--a day when the S&P touched down below 700 for the first time since 1996--Obama said we should all consider investing in the stock market. Via ABC News:

"What you're now seeing is...profit and earning ratios are starting to get to the point where buying stocks is a potentially good deal if you've got a long-term perspective on it."

Obama's smart investor move: Not focusing on the "day-to-day gyrations" of the market. He compared the Dow's wild swings to daily tracking polls in the political world.