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Wall Street Weekahead: Biden victory? Disputed election? Wall Street prices in November outcomes
Investors are girding their portfolios for market moves ahead of the U.S. presidential vote, as election season kicks into higher gear with the Democratic National Convention in the coming week. "There's plenty of reasons to believe that the election outcome is going to be drawn out," said Lamar Villere, a portfolio manager at Villere & Co. "That's going to show the cracks in a market that's been priced for perfection." Villere's firm has raised its cash levels to as high as 20% of assets as a hedge against election-induced volatility in a stock market some say has become richly valued - the S&P 500 has rallied more than 50% from its lows of the year and trades at its highest forward price-to-earnings multiple in around two decades.
https://finance.yahoo.com/news/wall-street-weekahead-biden-victory-030509028.html?.tsrc=rss
Investors are girding their portfolios for market moves ahead of the U.S. presidential vote, as election season kicks into higher gear with the Democratic National Convention in the coming week. "There's plenty of reasons to believe that the election outcome is going to be drawn out," said Lamar Villere, a portfolio manager at Villere & Co. "That's going to show the cracks in a market that's been priced for perfection." Villere's firm has raised its cash levels to as high as 20% of assets as a hedge against election-induced volatility in a stock market some say has become richly valued - the S&P 500 has rallied more than 50% from its lows of the year and trades at its highest forward price-to-earnings multiple in around two decades.
https://finance.yahoo.com/news/wall-street-weekahead-biden-victory-030509028.html?.tsrc=rss
