Don't let election volatility turn your portfolio upside down
Investors brace for the US presidential election, with the market (DJI, GSPC, IXIC) gauging the odds of former President Donald Trump and Vice President Kamala Harris winning. Clough Capital CEO and president Vince Lorusso joins Morning Brief Hosts Seana Smith and Brad Smith hours before Election Day to break down his market outlook in the near term and after election-driven volatility settles. Lorusso tells Yahoo Finance that while the election may cause some volatility in the short term, it doesn't alter his long-term bullishness. "One of the things that we observe about elections generally is they introduce volatility. But if you step back and look at the economic cycle, where we are in the capital markets, we don't really see anything with regard to the election or the Fed that's going to shift our posture from being really bullish on equities. We have comfortable levels of growth. We have increasing productivity. The Fed is becoming more accommodative. Regardless of who wins the election tomorrow, we think that the backdrop for equity investing is pretty compelling and favorable." "In the near term, we do expect that volatility, whether that's a rally or a little bit of a sell-off ... We'd be really hard-pressed to try to anticipate whether that's going to be kind of a lunge higher or a little bit of a sell-off and we're really not going to let our portfolios be turned upside down by those gyrations in the market." To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. This post was written by Naomi Buchanan.
