Where you should have invested during Obama's first term

President Obama began his first term in the White House on 4 November 2008 at the height of the credit crisis, vowing to rescue the financial system.

One month after Obama took office, the Federal Reserve made history by cutting interest rates to practically zero and the Treasury bought the stock of dozens of banks under its Capital Purchase Programme. Today the S&P 500 is more than 100% higher than the 12-year low reached in March 2009, just four months into Obama’s first term in office. This year the US’ leading index has rallied 10%, beating the returns from treasuries, corporate bonds, commodities, the dollar and equities in Asia and Europe. The last time US equities performed this well was 1995, but since Obama’s election, pre...