That is true.  Many of mine are like that, but I do try to look more like quarterly.  But I've also spoken to hourly employees of ours who move their stuff fairly often between bonds and stocks.  Likewise, whether they trade or if they do more buy and hold, many of them have an advisor helping with some movement (my cousin does this as a career after his work as a gigging bass player declined).  And they still are impacted by what the market does, care about it, and therefore I think it at least slightly enters into their perception of "health of the economy" when voting.  

I guess a pet peeve of mine is when some news shows try to constantly create a false battle between "Wall Street" and "Main Street" as if there is no link between them.  That said, the rather brutal way that large corporate interests backed by lots of investor money can weak havoc on smaller businesses is an issue that local governments could manage better.  But the federal government sees that it is now (or at least was) becoming an international game.  Really good small, local companies don't necessarily win that game whereas well-run and organized larger companies can . . . and can then grow overseas and import profits.  

Perhaps easier to say . . . it's complicated.