DEON GOUWS: Being paid for your pain
Elections and presidents come and go, but it’s still time in the market that counts
A client contacted me in mid-September, having just read an article in The Economist titled “What Will Happen If America’s Election Result is Contested?” Kamala Harris had been leading Donald Trump in the polls since she was anointed as the Democratic candidate when Joe Biden stepped down six weeks earlier. Could Harris actually win? And, if she did, were we likely to see a repeat of the January 2021 insurrection by Trump supporters?
The article painted a pretty bleak picture, referring to the outcome as a “foregone confusion”. What now, the client asked, given that our firm is responsible for managing a large proportion of his family balance sheet, and the portfolio is heavily weighted towards US equities. Was it perhaps time to take some risk off the table?..
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