It isn’t cruel or cynical. Like Connery’s choice to leave Scotland for a sunnier and financially friendlier haven, it’s just risk management.
A Biden win would represent a return to a conventional administration resulting in less volatility associated with political risks.
Biden’s proposed capital gains tax hike would be a “minor speedbump” for a stock market poised to continue higher.
A sweep by Democrats in the U.S. election and the specter of higher taxes and inflation will weigh on equities in coming years.