“Stop trying to predict the direction of the stock market, the economy or elections.” Warren Buffett As we get closer to Election Day, people are increasingly concerned about the impact on the stock market of the possible results. Although it’s easy enough to waste an extraordinary amount of time substantiating the theses on both sides, the reality is that from any reasonable time perspective, the net result will not be much different. It’s quite likely that the immediate reaction will be a sharp uptick in volatility, but the longer-term probability is that the market will rise the majority of the time, as it always has. The chart below tells the story: What is most obvious is that the market has risen as time has passed and there’s every reason to expect that this will continue in the future. Even if we take a closer look, there is no basis to come to a different conclusion. In the six most recent pres
Investment and economic observations by N. Russell Wayne, CFP, MBA. Mr. Wayne is the president of Sound Asset Managment, inc. and former Managing Editor of The Value Line Investment Survey.