^The problem with those analysis is timing.  Stock react quickly. The markets went up 8-10%  between election day and Trump taking office but were already pretty good. Who gets credit for that? And when you have a bad recession that is priced into stock before the recession really hits and then the market has no where go but up afterwards.

Then you have things like 9/11, covid, world wars, that are not really anyone fault.

In the 90's asia was in recession reducing demand for oil and oil prices were below $20 bucks. That was pretty good for the economy, business, consumption, and stocks. That was just lucky for whoever was in power. The fundamentals matter too