http://www.bloggingstocks.com/2008/09/05/are-republican-presidents-better-for-the-stock-market/
Pedro Santa-Clara and Rossen Valkanov who analyzed the value-weighted
returns on stocks between 1927 and 1998 under Democratic and Republican
presidents. And they found that the excess returns of stocks over the risk-
free rate of return -- as measured by the Center for Research into
Securities Prices (CRSP) indexes versus three-month Treasury bill rates --
were far higher for Democratic presidents (1
