It was announced this weekend that Joe Biden will be our next President. As with any new administration, there will inevitably be changes to taxes and regulations, but history has shown that changes to partisan control of the presidency and the Congress have little impact on the annual returns of the stock market. While we expect volatility in the short-term, we do not change our long-term investment approach based on election results. Looking ahead, we remain focused on balancing high quality securities, maintaining bond and cash positions, and evaluating new opportunities.
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