Campaign Countdown Part 1: A Storm is Coming
Election day is headed our way, and after the first ratings-crushing Presidential debate, everyone’s got something to say about what to expect on and after November 8. As finance junkies, we’ve been wondering: How will the madness affect the economy? We turned to our own client portfolio of seasoned financial advisors to find out. From real estate to estate planning, our experts gave a wide range of forecasts, from sunny to stormy. Here’s the first batch of results.
On the storm front, the real estate team at TwinRock Partners agreed with reporters like CNN Money‘s Heather Long, who included some dire predictions in her recent report “Is the U.S. Election Killing the Economy?”
“We are seven and a half years into a bull market, and it’s only a matter of time before the economy corrects itself,” said
TwinRock Partners Co-Founder and Co-CEO Alex Philips. “Right now, we are all distracted by these candidates, some of the most despised in history. It’s entertaining! But there will be a come-to-reality point when we get stuck with one or the other. And once the dust settles after election season, the economy is headed for a correction.”
But even if the economy does take a hit through next year, President Jeffrey Riback of Toppan Vite New York is encouraging his investors to stay the course and ride out the storm.
“Elections without an incumbent candidate are always more daunting for change-averse markets, because they are faced with inevitable change,” Riback said. “The key thing for any business during an election season is not to get carried away with partisan rhetoric. Panic is anathema to good business practices, so effective governance depends on keeping calm and going about business as usual until a candidate is elected and makes policy.”
About the businesses:
TwinRock Partners was founded in 2006 by real estate experts who saw great potential during a time of uncertainty. Since then, TwinRock has invested nearly $750 million in real estate with high and ultra-high net-worth family offices and institutional partners, experiencing above-average returns across diverse asset classes.
Toppan Vite is the world’s largest printing group, headquartered in Tokyo with approximately US $13 billion in annual sales. Toppan Vite New York’s expanding U.S. operations deliver hassle-free mission-critical content for capital markets transactions, financial reporting and regulatory compliance filings, investment companies and insurance providers.