Quarterly Commentary: October 2016

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As we enter autumn and the last quarter of the year, it is hard to think of the stock market without the cloud of election coverage. The presidential election cycle, and its effect on the stock market have been widely studied and might lead one to several observations. First, the pre-election period is normally marked with volatility as market participants deal with the uncertainty of the future political environment. Second, the removal of that uncertainty with the completion of the election has consistently provided attractive positive returns through the end of the year. Last, the following year, the first of a U.S. President’s term, is usually the least-rewarding year to be invested versus the remainder of the 4-year term.

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