Donald Trump is the President-Elect of the United States of America. I am not going to get into any political discourse here and now. There are winners and losers, but we can discuss that another time. You can rejoice in the election if you supported Trump (and for full disclosure, I have) or face reality if you did not. Either way, we must as a nation come together and support the will of the voters of the United States who did so in accordance with the Constitution our founding fathers crafted over two centuries ago. It is time to end the Facebook (FB) rants, bullying and division between relatives, friends and foes.
I have been quite analytical and unbiased in my analyses of the market’s reaction to the election. Recall that I said repeatedly to expect the unexpected. As I have also written, the initial reaction to a Trump victory will be a sell-off, like that for (the also incorrectly polled) Brexit. That will be short lived. Today the markets will be down hard. Do not allow your political leanings or election disappointment to cloud your financial decisions and sell into a panic market. Sometime Thursday you will get a great buying opportunity.
In the long run, as I recently wrote on MarketWatch, a Republican sweep will lead to a Reagan style bull market. Remember that it was the economic expansion and foreign policy under Ronald Reagan that set the table for the 1990s-technological revolution and bull market. I am forecasting the same under the new American leadership.
Finally, I have to say, that my most joyous and proud moment of this election process, is that our son Steven was selected, as a result of his leadership position at UNLV, to be an usher at the final Presidential debate.
Disclosure: At the time of this commentary Scott Rothbort, his family and/or clients of LakeView AssetManagement, LLC was long FB — although positions can change at any time.
Scott Rothbort is the President & Founder of LakeView Asset Management, LLC, a registered investment advisor specializing in high net worth private wealth management. For more information on investing with LakeView Asset Management, LLC call us at 888-9LAKEVIEW or request more information by clicking on the contact button on the top right hand corner of the website. LakeView Management, LLC is a Nevada LLC, with its principal office located in Henderson, NV and branch office located in Millburn, NJ
Scott Rothbort is also the publisher of the LakeView Restaurant & Food Chain Report, a newsletter focusing in on food, restaurant, beverage and agricultural stocks. An individual subscription to the newsletter can be ordered at www.restaurantstox.com Furthermore; Scott is also a professor at the Seton Hall Stillman School of Business in South Orange, NJ.
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