As a Result, Our Investment Philosophy Will Remain the Same.
Brian A. Magnan CFP®, AIF®
Director, Magnan Family Wealth Management
Regardless of the outcome of the upcoming presidential election, our investment philosophy remains steadfast. We focus on investing in companies, not governments. While social changes may occur, the financial landscape over our lifetime has been resilient.
Can we blame any past recession solely on any one president? Since 1789. We have had 46 presidents serve our country. How many can we directly assign responsibility for any of the multiple historical declines greater than 20% in the prices of our companies? Whether under a Democrat, Republican, or another party, the value of many of these companies has consistently appreciated over time.
The prices of these companies, however, will fluctuate wildly. Should we experience a temporary drop of 20-50%, it may present an excellent opportunity to increase our holdings in these valuable companies through new money, dividend reinvestments, or converting traditional IRAs to Roth IRAs. (Wells Fargo Advisors Financial Network is not a legal or tax advisor)
In our office, we have a mug with my favorite quote from Sir Winston Churchill: “Democracy is the worst form of government except for all the others.” Trust in the balance of our three branches of government, and trust in the CEOs of the companies we invest in to navigate any new regulations. Most importantly, trust in the historically proven plan we have in place. Focus not on what might work in the future, but what has always worked.
Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC (WFAFN), Member SIPC. Magnan Family Wealth Management is a separate entity from WFAFN.