Listening to the debate on the way back from client meetings in San Diego, I was reminded of many encounters I have with professionals and job applicants discussing valuation with me. Sometimes they are knowledgeable and prepared, sometimes, they talk around an issue to sound smart, and sometimes they just do not have a clue. But when you really understand a topic, it is really easy to understand who knows what.
Obama for the most part seemed like an eager young finance professional that is trying to impress his bosses that he knows what he is doing and should be given more responsibility. But he really did not have the goods at his command.
After the first question, which made me think McCain was too tired from his Bailout Follies, the debate took a regular rhythm of McCain attacking and Obama defending. Its hard to feel that Obama really kept close to McCain with his knowledge or understanding of the issues. This particularly became clear during the 5 minute rebuttal phase, each candidate had to reply in the context of a specific issue raised by his opponent. McCain seemed to react to Obama’s claims with ease and confidence – essentially calling Obama out over his reference to Kissinger. Obama in contrast always seemed flustered, and his line “I have a bracelet too” remined me of the first grader that the teacher does not call on in class so he has to blurt out for attention.
The MSM spin after the debate is that for the most part it was a tie, and thus Obama won. So be it. Next year they will try to convince us that red is really blue.
