Stocks will return to record highs regardless of election outcome, $250 million money manager predicts
Money manager Loreen Gilbert is optimistic the market will return to all-time highs this year, and it has nothing to do with who wins the presidential election.
She’s building her case on a strong — albeit uneven — economic recovery.
“You can’t fight the train that’s already in motion,” WealthWise Financial CEO, told CNBC’s “Trading Nation” on Tuesday.
Gilbert, who has $250 million in assets under management, also believes the probability of getting a second coronavirus aid package is growing.
Plus, she isn’t worried about the potential of a contested election.
“I don’t think it’s going to be as significant as the pundits are saying,” said Gilbert. “I do think we will have a answer, hopefully, going into December.'”
She predicts the removal of uncertainty would set the stage for a return to record levels.
Yet, she acknowledges investors will have to cope with volatility in the meantime, and the ultimate sector winners will be contingent on whether President Trump or Joe Biden takes the White House.
So, her best advice: Resist the urge to go to cash, but be well-diversified going into the election.
“People don’t want to be out of this market,” said Gilbert. “We are in a bull market run.”
The S&P 500 is off almost 8% from its record high hit on September 2, but it has surged about 45% since the March 23 low.
Correction: Gilbert’s assets under management are expected to become $300 million after a merger in a few weeks. They are currently $250 million.
