The election results are in and the real winners are the American people who do not have to watch politics ads anymore! Today we dive into the aftermath of the recent elections and what happens next for the markets. We talk about the ineffectiveness of government spending and the evolving view of political parties. There needs to be greater personal accountability and unity in navigating the nation's political landscape. No matter what we will be sure to see the impact of political dynamics on society and markets. The market will definitely respond to the political events of the next four years. Today we discuss...
- Relief after the recent election, especially from political advertising overload.
- How a record-breaking $15.9 billion was spent on U.S. political ads this election cycle.
- Frustrations over high campaign spending and suggests such funds could better support social causes.
- Critiques of the U.S. political system's reliance on private contributions and its potential to sway policy.
- Comedians like Jon Stewart for addressing political hypocrisy across the spectrum.
- The American political system seems to shift over time, with parties taking on opposite stances on issues like war.
- Bipartisan acceptance of differing opinions and the preservation of First Amendment rights are essential for a healthy society.
- Freedom of speech includes both expressing opinions and facing possible negative reactions.
- Extremist views on both political sides have made rational discussion harder.
- Polarized societies often see suppressed opinions emerge during pivotal events, like elections.
- Market reactions to election results can indicate future performance trends.
- Specific sectors post-election, like coal, banks, and crypto, provides insights on economic sentiment.
- Election outcomes impact short-term market volatility, but fundamentals drive long-term trends.
"Cash is not trash... Cash is King" - Kirk Chisholm
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Today's Guest: Kirk Chisholm
Kirk Chisholm is a Wealth Manager and Principal at Innovative Advisory Group, an independent Registered Investment Advisor located in Lexington, MA. He has been providing wealth management services to individuals, executives, entrepreneurs, and their families since 1999. He is an outside the box thinker, risk manager, inflation expert, blogger, podcaster, and all-around interesting guy. Kirk is dedicated to developing lasting relationships with all of his clients and their families. One of the benefits of working with Kirk is his patience, empathy, and his ability to provide clear and easy-to-understand explanations to complex financial topics.
Kirk developed a unique philosophy for the wealth management industry called Risk Management First. The medical field has a similar way of thinking of “first do no harm”. This philosophy focuses on risk management for clients in all aspects of their lives in ways the industry does not address. Risk management does not stop with investments. It also requires working closely with other professionals to address areas of their financial lives not currently being met.
In 2008, Kirk co-founded Innovative Advisory Group to address the needs not being addressed by the wealth management industry. It started with specializing in alternative assets held in retirement accounts (i.e. self directed IRAs/401ks). Then the company expanded into the specialization of college funding (i.e. planning, strategy, and paying the least possible for a high quality education), Risk Management First, exit planning for business owners, advanced planning (estate, tax, etc), and providing practice management and leadership training to other financial advisors, accountants and attorneys.
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Today's Panelists
- Kirk Chisholm | Innovative Wealth
- Douglas Heagren | Pro College Planners