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Financial advisor preparing for pre-election pullback

Reuters Videos
Updated

STORY: Browne said that the outcome of the U.S. presidential election between Democratic Vice President Kamala Harris and her Republican opponent, former President Donald Trump, will not only affect the direction of the market, but will also determine which assets will reap the most gains.

"Our biggest position is in gold," he added. "We've got about a 20% cash and T-bill allocation. So, we're all about quality, but also liquidity and I'll call it optionality at this point, the ability to continue to participate if the market's going up but also to buy in or make adjustments if we do see another a lot of volatility between now and Election Day. And we would not be surprised by that at all."