Post-election discussion between an Economist and a Portfolio Manager

On Monday, November 9th, Dominic Costantini, SVP, Pembroke moderated a discussion between Caroline Miller, CFA, Director of the Pembroke American Growth Fund and Jeff Tory, Chairman, Partner, Director and Portfolio Manager at Pembroke.

Key Takeaways

1. A divided government will constrain the implementation of a very progressive agenda, which is an outlook that is supportive for stocks;

2. “Easy money” and deficit spending will continue under a Biden administration, and while they will need to be reigned-in when inflation rises, that is probably 2-3 years away;

3. In some respects, the election results point to the US electorate being largely supportive of deficit spending but not paying higher taxes.

To learn more, please view the recording here: