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January 29, 2009
The Steelers Are Bullish
A good friend and client is a huge Steelers fan. Being a Buffalo Bills fan I don’t know how I can stand the guy as they are probably going to get their 6th championship and neither the Bills nor any other team from Buffalo has ever won anything, just lots of near misses.
I can't vouch for the following but my friend forwarded me an article from the Pittsburgh Post Gazette written by Len Boselovic which stated:
Memo to U.S. Treasury Secretary Timothy Geithner: The Pittsburgh Steelers may be the only stimulus package you'll need.
Wall Street has never had a losing year whenever the five-time Super Bowl champs have played in the big game, generating returns two times larger than average since the Super Bowl was first played in 1967.
Stocks also have outperformed in years a team appears in the Super Bowl for the first time, which is the case with the Arizona Cardinals. But the edge in those years is much smaller than the gargantuan gains that Steelers appearances have produced.
I'll be cheering for the Steelers Sunday. Ben Roethlisberger and I share the same alma mater, Miami of Ohio. We don’t get too many stars in professional sports so I'll be waving a terrible towel on Sunday. Hopefully, the market will cooperate again this year with Steeler success and I won't have to use that towel to wipe away tears from another down year.
Posted by Steve Birenberg at January 29, 2009 01:20 PM in Stock Market