Ed Harrison welcomes Stephen Kalayjian to discuss the elevated levels of volatility and his forward outlook for markets over the coming months.
- With the U.S. election coming up in less than a week, markets are being worn down by the torrent of uncertainty surrounding policy outcomes with each respective administration and COVID-19 is exacerbating tensions further.
- There is some limit to the downside, but if uncertainty around the election results drag on, it will be like a slow death; we won’t see a crash but a constant sideways drifting lower.
- Investors are looking for more alpha-generating gains in names that are COVID-proof (ie. large cap tech stocks), and as long as the model isn’t broken, this is where the play is going forward.
- The perception of economic growth in large cap tech stocks will propel their prices up further for the rest of 2020 through the beginning of 2021.
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