Last night’s election results provided two important lessons for investors:
Lesson One: The market is the best poll of all.
Following Brexit and last night’s election, no one will view polls the same ever again. However, leading up to Election Day, market returns and sector performance, specifically in Energy and Financials, were indicating a Trump victory, counter to the consensus view and poll results.
Lesson Two: It’s still (and always) about the fundamentals.
Last night served as a perfect reminder that it’s not about what should be; it’s […]