Should You Hoard Cash Before The Election?

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Gary Shilling, the founder of his namesake investment advisory and economic consulting firm, writes in his latest market outlook that “until the election is settled, and its aftermath clearer, we suggest lots of cash in your portfolio.”

How should advisors view the coming presidential election, which is beginning to unnerve some investors? Although the overriding philosophy of the industry is to avoid market timing and stick with strategies that conform to investors' long-term financial plans and goals, the unusual nature of this presidential election may be leading some investors to question that approach.…