Many investors believe that the fortunes of the U.S. and Canada are inexplicably tied. These same investors are closely watching the U.S. presidential election for answers to the recent market volatility. Unfortunately, they are likely looking in the wrong place. For insight on why investors should look beyond the U.S. election, the Financial Post recently spoke with Paul de Sousa, senior vice president and investment advisor at Sightline Wealth Management.
According to de Sousa, there are much larger factors than who sits in the White House that will potentially impact returns for Canadian investors. “I’m in the camp where it doesn’t really matter,” he says in regard to the election.
Many other financial experts in Canada agree with de Sousa, explaining that the composition of Canada’s markets, growing Canadian government debt, the COVID-19 pandemic and various other macroeconomic factors that extend beyond politics will be what truly influences Canadian businesses and portfolios. As a result, it is important for Canadian investors to not focus on the U.S. election but rather on building a properly allocated portfolio that is prepared for anything.
Click here to read the entire article in the Financial Post.