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Elections and Money

  • Writer: Christopher Lakian
    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

 

 

OneSeven ("OneSeven") is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC). Registration with the SEC does not imply a certain level of skill or training. All titles listed for individuals associated with Magnetic North Financial represent the individual's role with Magnetic North Financial, and not their role with OneSeven. Services are provided under the name Magnetic North Financial, a DBA of OneSeven.

 

 

 
 
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OneSeven ("OneSeven") is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC). Registration with the SEC does not imply a certain level of skill or training. All titles listed for individuals associated with Magnetic North Financial represent the individual's role with Magnetic North Financial, and not their role with OneSeven. Services are provided under the name Magnetic North Financial, a DBA of OneSeven.

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