Although there are still challenges in the courts by the Trump administration, on Saturday, November 7, major news outlets called the 2020 presidential election in favor of Joe Biden to become the 46th president of the United States. This election made history, because it marks the first time that a woman – Senator Kamala Harris – will serve as vice president.
Due in part to the ever-growing influence of social media, this was a very partisan election. As mentioned above, several lawsuits remain contesting the results. However, we are going to assume Joe Biden will be the next president and plan accordingly.
Part of the reason for our commentary is to continuously reinforce our belief that allowing emotions to influence investing is not a recipe for success. Whether or not you are pleased with the outcome of this election, in our opinion this is not the time to make dramatic changes to your investment strategy. While we understand nearly half of the country is unhappy with the results, we do not feel it warrants making dramatic changes to your investment strategy.
Download our special commentary in which we analyze some of the potential ways a Biden administration may affect the markets.