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It is hard to believe that it has been four years since Donald Trump was elected President of the United States. This election season has certainly been unique, occurring in a year that has been characterised by a global pandemic, a short but deep recession and continued social unrest.
With so much uncertainty, it is unsurprising that many clients are asking whether their portfolios are properly positioned for the outcome. As we learned from the 2016 presidential race, it can be difficult to predict a winner.
History tells us that the outcome will not have a significant impact on stock market performance. You are better to stick with your long-term investment strategy and avoid making emotional decisions based on who you think may win the White House.
The recent volatility is typical of the market’s behaviour following an all-time high. We view the past few months as a healthy consolidation of the initial leg of a bull market that is likely to run for years, not months. Any share market weakness from the election or otherwise we believe would be an opportunity to invest.