We are finally closing in on the last few days of what has been an “unprecedented” election season. Unprecedented is a word we have used often this year and if I never hear that term again, I will be elated. To be honest, like you, I am tired of it all and ready to move on. Bring on 2021! But first, we must close a few chapters on this historic book that is being written. I show these charts from Real Clear Politics to illustrate how close this presidential race really is. I also know from history, that polls are not always the most accurate of predictors. More than 80 million votes have already been cast, already breaking 100-year old records. This will be an unprecedented election on many fronts, and it is truly amazing to see Americans voicing and exercising their rights. While we may not agree on some things, the simple fact that we can have the freedom to express these views collectively is something we should rally around.
The chart on the left is from October 23rd and the one on the right is from October 30th. The national polls have remained relatively consistent over the last week, while the battleground states are certainly still “in play”. Both candidates have been actively campaigning in these toss-up states with no plans to slow down before Tuesday. At this point, unless the numbers paint a much different picture, we may not know the final outcome for several days. Let’s hope this does not drag on longer than needed.
Covid-19 positivity rates have again moved higher and this has created more volatility in our markets this past week. Europe and other parts of the world have reinstated measures to slow down the spread and this has caused some concerns here in the U.S. as well. We’ve also seen many companies now report their quarterly earnings, which have generally been well received, but in times like these we often see a “sell the good news” mentality. This has also contributed to some of the recent sell-off. We view this sell-off as an opportunity and have been selectively adding small positions where appropriate. While we still believe it is prudent to hold some dry powder we will also be opportunistic in those investments we believe are positioned for the longer-term.
Halloween looks and feels much different from any year I can remember, but I still find comfort in seeing kids and adults get excited and in a more festive mood. We still need to hold on to the simple things even while the storms brews around us. From all of us here at Mosaic, we hope you have a wonderful Halloween weekend.
Don’t forget to use your voice and vote! Stay safe.
Christopher E. Wasson, CFP®
Mosaic Asset Partners, LLC
1122 Kenilworth Drive Suite 310
Towson, MD 21204
410.821.0089 fax 410.821.5993
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