" on Monday. "What I do think we need to expect going forward is more volatility as we get closer and closer to the election."to the presidential election over the past week – Biden shored up his support in recent polls after last week's debate. However, Hooper said investors should still be prepared for a lack of certainty on election night and possibly in the days and weeks afterward.
"We should assume there could be, there could very well be a contested election and operate based on that. Now that doesn't mean doing anything different with one's portfolio, but it does mean expecting more volatility, and again, viewing it as an opportunity if one has cash that they're looking to deploy," Hooper said.
In a separate call with CNBC, Hooper said investors should take Trump at his word when he avoided an outright commitment to accept the results of the election. She said the president appears likely to challenge the results if Biden is declared the winner. This, rather than the polls, points to the possibility of a contested election and the higher chances for volatility, she said.
"Put blinders on. Sit tight and ride it out because this is likely to be very, very short-term volatility," she said. "This should be a short-term blip. We will have someone inaugurated in January. And so it's important to keep a long-term focus, maintain good diversification broadly … within asset classes. And of course, we can look opportunistically to stock market dips as an opportunity to pick up stocks at lower prices, but we can't be scared in this environment.
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Source: CNBC - 🏆 12. / 72 Read more »