There Is No Michelle Effect

J. Crew is having a great year, but that’s got little to do with the first lady.

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Every time Michelle Obama wears a cardigan, it happens again: a nationwide gush-fest over the way that the first lady is boosting retailer J. Crew (JCG). Michelle Obama Lifts J. Crew! Can Michelle Save the Fashion Retailer? The First Lady Brings J. Crew to London! The Crew Cashes In!

The theory that the first lady has saved the preppy clothing store from a recessionary doomsday fits nicely with the fact that J. Crew stock has doubled in value since the inauguration. Shares have risen from $9.61 per share to $19.23. And TBM for this reason included J. Crew stock in its tongue-in-cheek but successful Obama portfolio.

Read more of this article on The Big Money.

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