From CNBC:

Despite mounting geopolitical risks, Beat Wittmann, partner at Porta Advisors, believes stocks are still the “asset class of choice” and that the outcome of the U.S. election will be “pretty irrelevant” for markets. He acknowledges political challenges amid elections and conflicts, but trusts that markets will remain calm because they’ve adapted to geopolitical trouble over the last five years.

Wittmann’s confidence in the fortitude of markets is supported by last year’s performance, which saw the S&P 500 gain 24% despite ongoing geopolitical tensions. However, concentrated growth stocks present a concern for investors, but Wittmann remains optimistic about the broader potential in stock markets and the potential for a technology-led rally.

Monetary policy has been a key driver of the market rally, with the Federal Reserve hinting at interest rate cuts and monetary policy decisions and forward guidance expected to be released on Wednesday. Wittmann highlighted the only risk to the current momentum being if unforeseen geopolitical risks lead to stickier inflation and higher interest rates, but believes that the equity market is the asset class of choice.

In discussions from the recent World Economic Forum regarding the U.S. election and whether a Trump presidency would affect the markets, Wittmann stated that the election outcome would be “pretty irrelevant for markets, quite frankly.” He believes that the U.S. economy’s strong position in various sectors will make it difficult for any surprises by the President to have a significant impact.



Read more: Stocks ‘asset class of choice’ as markets used to bad news: Strategist