Well the US election is finally days away. It has been long and a bit of a circus. The battle between Donald Trump and Hillary Clinton leaves a lot of people wondering whether either candidate will be good for the markets let alone the country. Since we are in Canada, our only concern at the moment will be the markets.
There have been many studies done showing statistics whether it is a Democratic win versus a Republican win. The problem we have is that the data is always in the past. The past as we have stated many times is not indicative of the future. Having said this, there is actually no scientific proof that either party has any long term effect on the markets.
Anything in the short term can make the markets move in any direction but the long term effect is not predictable. When we look back we can always associate something to the market direction. In the long run it will be the economic outlook for the country that will impact the markets. Look what happened in 2008-2009.
You have to look at what your long term goals are and stick to your plan. If you need cash in the near future, less than three years, then keep that money in cash. Cash is king when you need it. Don’t play psychic and try and predict the markets. In the end you will probably lose because even if you cash out and sit on the sidelines during a downturn you will not accurately know when to get back in the markets. The best plan is staying invested and focused on the long term goals.
So now we wait and see who wins and what the short term impact will be.
Linda J. Levesque, CFP®, FMA, FCSI
Sr. Investment Advisor
Director, Private Client Group HollisWealth Insurance Advisor
HollisWealth Insurance Agency Ltd.
Levesque Wealth Planning
HollisWealth, a division of Scotia Capital Inc.
‘Saving Today for a Richer Tomorrow’™
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