This presidential election campaign has been remarkable for all the rhetoric, partisan spin and outright misinformation, which provide an opportunity to evaluate a few myths involving politics and investing.

The ultimate victor in the White House race will exert tremendous influence over the economy, tax laws and policies favoring or hurting specific industries.

Plenty of people assume Republican presidents are best for Wall Street, and that political unity in Washington, D.

C., provides the most favorable backdrop for investors. Some examples: In reality, stocks have performed better when Democrats occupy the White House.

Since 1928, the Standard & Poor's 500 index has produced an average 7.3 percent annual return including dividends under Republicans and 14.4 percent under Democrats, according to a new Bank of America Merrill Lynch analysis.

That represents 41 years with the GOP in the Oval Office and 48 years with a Democratic administration.

Keep in mind, though, that's still a small number of years overall on which to draw solid conclusions.