Rarely in our nation's history have political views been more polarized - or more toxic. Political differences are inevitable, of course. But it's a mistake to turn bullish or bearish on the market based on which party is in power or who's in the White House. During the Obama years, for instance, I had several conservative friends who shunned stocks because of their strenuous opposition to Obama's policies on taxes, spending, regulations, healthcare, and debt. I opposed many of these Obama policies myself. But it didn't affect my view of the market. Good thing. During Obama's two terms, the S&P 500 Index returned 235%. (And our Oxford Club portfolios did far better.) And President Trump served through a rip-roaring bull market - one that was dealing with a pandemic at the time. Yet I have a number of progressive friends who missed the train entirely. |
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