Tags: 2020 Elections | gasparino | biden | wins | buy stocks

Gasparino: If Biden Wins, Buy Stocks

Gasparino: If Biden Wins, Buy Stocks
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By    |   Sunday, 01 November 2020 04:18 PM

Savvy investors reportedly would be wise to jump into action and start buying stocks if Democrat Joe Biden wins the presidency.

Investors should “load up on shares of any company that can benefit from his (Biden) embrace of the Green New Deal, like solar-panel companies,” Fox Business Network Senior Correspondent Charlie Gasparino wrote for the New York Post.

“If you think Trump was good for the markets over the past four years, Biden’s planned $2 trillion spending spree as he gets into office will turbocharge markets like never before, the Wall Street experts say,” according to Gasparino.

However, Gasparino said he has seen a lot of behind-the-scenes confusion I’m witnessing among major traders.

“Wall Street cares a lot about the presidential election and not just because it impacts their tax bills. They trade on the impact the likely winner will have on stocks, which is exactly what they’re doing now, feverishly, as we get close to Tuesday,” he said.

“Several top players in the business over the past few days have called me, of all people, for a read on the presidential polls because they’re trading blindly on this one,” he wrote.

“The confusion of the smart-money crowd tells us something about Wall Street. The geniuses who run the big banks and financial firms and too often dominate economic commentary have never been that smart, and probably shouldn’t be trusted to either predict the election or how good (or bad) things will get whoever is elected,” he said.

“My clients are mostly split,” said one adviser to major hedge funds. “About 60 percent of them think it’s Biden’s to lose, but the rest say they’re betting on Trump.”

However, Newsmax Finance Insider Stephen McBride suggests that investors just ignore the election.

"The truth is, smart investors won’t waste a second worrying about which party will win," he recently wrote for Newsmax Finance. 

"I’ve done all the boring work for you. I’ve studied the data back as far as 1897, and one thing is crystal clear: There isn’t some golden, predictable pattern when it comes to presidents and the stock market," he wrote.

"Stocks have SOARED when both Republicans and Democrats were in power. Stocks have TANKED when both Republicans and Democrats were in power," he wrote.

"The media does a terrific job at highlighting the Grand Canyon-sized differences between both sides. You’ll hear how Biden wants to fund the Green New Deal, and Trump doesn’t. Or that Trump wants to beef up the military, while Biden wants to slash defense spending," he wrote.

"This is all just noise. Ignore it, because it’s a distraction from what really moves the needle for stocks."

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Savvy investors reportedly would be wise to jump into action and start buying stocks if Democrat Joe Biden wins the presidency.
gasparino, biden, wins, buy stocks
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2020-18-01
Sunday, 01 November 2020 04:18 PM
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