What will the coming presidential election mean for your portfolio? That's fast becoming a hot topic. And as the 2024 election moves into the post-Labor Day stretch, you'll hear more and more about how one candidate or party will be much better for the stock market than the other. It happens every election cycle without fail. Former President Donald Trump is already predicting a market crash "like 1929" if Vice President Kamala Harris wins the election. His remarks have been parroted elsewhere. Others contend that a Trump victory poses the biggest risk of a market crash. More generally, Democrats claim they're better for the stock market while Republicans claim the opposite. But if you look at the market's performance over the past 80 years, since Harry Truman occupied the Oval Office, you'll see that it continues to climb - with occasional corrections and bear markets - no matter who is in office. And the biggest gains are not limited to one party. The gains of the Clinton era compete with those of the Reagan-Bush era that preceded it. And Obama, Trump, and Biden all put up pretty good numbers. |
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