# Professor Lawrence White on Hillary Clinton's claim that the stock market has performed better under Democratic presidents

1 Faculty News August 7, 2015 ![PolitiFact logo](/sites/default/files/styles/246w/public/assets/images/con_030740.jpg?itok=AksI8GU5)>

Excerpt from [PolitiFact](http://www.politifact.com/truth-o-meter/statements/2015/aug/04/hillary-clinton/hillary-clinton-says-stock-market-has-done-better-/) -- "In fact, if you remove Hoover from the GOP column, the average monthly return for Republicans improves significantly, from a 0.38 percent average monthly return to a 0.61 percent monthly return. The Hoover-free GOP number is within striking distance of the Democratic mark of 0.73 percent, said [Lawrence J. White](http://w4.stern.nyu.edu/faculty/bio/lawrence-white), a professor at New York University’s Stern School of Business. White doesn’t argue that it’s fairest to remove Hoover from the GOP’s calculation. Rather, he said, it’s a reminder that relatively small changes due at least in part to unlucky timing can have big effects on the end result."

[Read more](http://www.politifact.com/truth-o-meter/statements/2015/aug/04/hillary-clinton/hillary-clinton-says-stock-market-has-done-better-/)