What does Obama's victory mean for investors?

Obama's win has removed some of the uncertainty in the US, which can only be good for markets. But he's taking over in very tough times. The current rally may look promising, but with the economic outlook still grim, we could see new lows before long.

So the free world has a new leader.

Barack Obama is the new president of the USA. As an outsider I appreciate that not all of our US readers will agree I think this is good news. Whatever Mr Obama's policies on tax and spending, the US is seen as the home of democracy and capitalism.

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.