Just when we thought we were over the shock of the Brexit vote, we get slapped across the face with the US election fiasco. I’m not surprised at the result, to be honest, having just returned from the States. I spoke to many US citizens who are sick to death of the political elite so out of touch with the people they represent. So once again, this is a vote not for a particular person, but against the establishment generally. What has surprised me, though, is the resilience of the markets – so far – to these shocks. Despite the media telling us world equities have ‘fallen off a cliff’ there’s actually very little to see here. Although of course it is very early days. As to whether Trump can deliver on his promises – to shake up central bankers, bring Wall Street back to heel, increase infrastructure spending and build that Mexican wall – that remains to be seen.
Stop me if I’ve said this before, but being invested in a range of diversified, regularly rebalanced investments, for the longer term has always paid off, regardless of which lunatics have taken over what asylum.