As investors move forward and leave behind whatever emotional response the election triggered, we believe that it is important to base our investment decisions on economic and market fundamentals. As it happens, the economy remains resilient, company earnings are growing, and the Fed has begun readjusting rates downward towards their estimation of the neutral rate. In our view, irrational investor behavior is more dangerous to the success of a financial plan than short-term market performance, and we recommend fighting the urge to react after events happen. While most politicians would not like to admit it, markets tend to advance in spite of political events, rather than because of them.
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