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Is war good or bad for the stock market?

This weekend, the crazy dictator in North Korea stepped up the insanity by supposedly testing out a hydrogen bomb. Whether they actually did this is debatable but the rhetoric is going beyond words with missiles and bomb tests. What Kim Jon Un is trying to accomplish is anyone's guess because he isn't winning any friends with ballistic missiles over Japan or nuclear tests. We just hope that a strategic miscalculation doesn't lead to a serious war.

As money managers, we have to decipher whether this is good or bad for the stock market. In April, Barron's Mark Hulbert wrote a piece titled “War is Hell – but Not for the Stock Market.” Is this true?

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