A very good read.

[RickN]

Not a long piece and well worth your time.

But the markets aren’t silent. Well before Tuesday’s election results, sophisticated investors fretted about the scenario of a narrow Obama victory coupled with the Dems adding seats in the Senate and Republicans maintaining control of the House.

They saw that as a trigger for the fiscal cliff — a configuration least likely to produce compromise, even on the Republican side, with Tea Partiers demanding that leadership hold the line on taxes and spending.

As a result, they were recommending to clients that they snap up Treasury bonds and shares of alcohol companies and even gun manufacturers. It isn’t a coincidence that shares of gun manufacturer Smith & Wesson rose sharply after Obama’s win, as did Treasury bonds, even though they offer paltry returns, given current interest rates.

http://www.nypost.com/p/news/opinion/opedcolumnists/wall_st_post_vote_willies_97rZBD1d5QYe7PUXxLrQjJ