Elections and Money
- Christopher Lakian
- Aug 7, 2024
- 2 min read
Updated: Mar 27
Happy Friday everyone
If you are in the coastal Carolinas, Florida, or Georgia, I hope you all stayed safeand dry through Tropical Storm Debby.
Elections and progress:
My wife loves to read the New York Times and I am personally a fan of the WallStreet Journal. I do really like reading both, but the go to daily is the journal.
One thing I cannot escape on either paper is the election cycle is in full swing, and the misinformation isconstant. It is truly appalling over the different reporting of these two papers.
My wife and I read the same articles and come out with a different opinion, and it can lead to spirited conversations.
However
Through these conversations one thing never changes- she will proceed forwardwith her deals in commercial real estate, and my investment strategies don’t react to political noise.
Below are a few stories that I have had with people over the years. I hope they warrant a chuckle or two.
A residential realtor, and former neighbor owned a family business/ team in theLowcountry. In November 2020, when Joe Biden was named winner of theelection, she walked over to me as I was going to work and said, “ I read onFacebook that Biden is going to freeze all republican bank accounts in January!My father and I are withdrawing all our money, and you should too.”
It took quite some time to inform her that was complete and utter ridiculousness.
In December 2016, my former accountant, a very respected, accomplishedprofessional, announced in an impromptu meeting that he had liquidated his entireportfolio at Merrill Lynch because Trump would crash the economy and createWorld War Three!
This also never happened.
In 2009, the ex-chief financial officer of a rising S&P 600 company (nameless forprivacy) announced that he was leaving the country and liquidating his assetsbecause Obama would turn the United States into Russia image.
I didn’t know what to tell him! And yes, he did leave and moved to Australia
you might wonder why I even wrote about this.
Simple,
The stock market and our economy have mustered through sixteen years of radicalopinions, yet we have come through on top—that will stay the same in 2025 or
even 2026, regardless of who is president.
I Remain here to allay any fears and adapt as your lifestyles and circumstances warrant.Best,
Christopher
Christopher R Lakian
Owner, Portfolio Manager, AIF
Magnetic North Financial
1156 Bowman Road Suite 200
Mt Pleasant SC 29464
Main Number: 843-212-4023
Cell: 843-737-6060
Global Relay Secure Text: 843-428-7827
Website: www.MagneticNorthFinancial.com
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