JECohen urged investors to avoid portfolio changes tied to the November US midterm election, citing limited long-term market impact from Washington politics.
The note said midterm years have averaged positive returns, with outcomes driven more by inflation, growth, Fed policy, and the business cycle.
It warned that policy shifts typically arrive slowly, limiting near-term effects on portfolios even when taxes or tariffs change.
The commentary advised sticking with diversified, long-term allocations designed to perform across political outcomes rather than trying to trade election results.
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