Let's talk about the fact that we now know what the teams are for the November lineup. It's going to be Trump-Pence and Biden-Harris.
It's a really interesting choice in Harris, right? You know Biden was already going to get California; She's a California resident. She's not really delivering a purple state, but boy, she's a firebrand. The debates are going to be very interesting.
Cutting through Election Year Noise
Let's be realistic and transparent - despite all of the noise, despite the cacophony that we're all going to be buried with over the course of the next couple of months, the market doesn't care who wins.
Each party is going to try to scare us, terrify us, and influence us that if the other team wins, it's the end of the world, the market just doesn't care. There's going to be different winners and different losers under each scenario.
The White House and Wall Street
If Biden wins, there will be increases to Social Security. There'll be increases to areas of the economy like welfare. Those all create winners in their own right. Correct? That kind of is government spending creates its own winners in terms of the companies who provide the services to the people at that level of the economy.
If Trump wins, companies and organizations in industries that are heavily regulated will probably face some tailwinds because the Trump administration will be cutting regulation. That has been par for the course for the last four years. It's just a matter of who wins, and the market's just looking for clarity.
So as we're putting up with all the noise, just stick your fingers in your ears. Let's get to the middle of November. A lot of this craziness is going to die down.
Preparing for Change
We're looking and researching and studying the markets. Looking at historically what industries and companies have thrived based on one set of policies or another. We'll be adjusting the portfolios accordingly on your behalf.
If you have questions by all means, reach out to us. We're always here with perspective for the decisions ahead, have a safe week, have a safe weekend and enjoy the last couple of weeks of August, 2020. Take care.