"If you’ve just watched the six o’clock news about the Democrat party’s Blue Wave and are getting ready to make a Biden trade, take a minute and cool your jets.
As the fervor over political change south of the border hits peak intensity – especially after the horrendous scenes on Capitol Hill on Wednesday – one portfolio manager gave WP a more sober, realistic from an advisor’s perspective.
With his practice managing retail investors, pension-style investing leads the strategy. Rob Tetrault, of Tetrault Wealth Advisory Group, Canaccord Genuity Wealth Management, urged investors and fellow advisors to remember that unless they feel they have a competitive advantage on information, the market has already priced in events in real time.
He said: “The market is an accurate minute by minute, second by second reflection of everything that's happening. If you think that you can get ahead of something, you're either believing that for one of two reasons. You're either believing that you have a competitive advantage, for whatever reason, or you believe that there's arbitrage in the market that hasn't been properly reflected yet; you believe that it's taking time for certain sectors or for certain trades to take hold. And that is the case sometimes."