I am aware that my financial ramblings have been absent for a few weeks. This is a result of a holiday in Europe (yes I risked it again) and the associated clearing of decks prior and after.
Having been working from home for months now, given that I’ve had no symptoms of the dreaded Corona, quarantine hasn’t meant much of a change of pace for me. It has however meant I’ve had a convenient excuse for dodging my turn to do the weekly shop, so if anything I’d call it a victory.
However, normal service can now resume and there is no shortage of things to talk about today and over the next few weeks…
Trump’s October Surprise
There is a well-known phenomenon in US politics called the ‘October surprise’. First coined by Ronald Reagan’s campaign manager William Casey in the 1980s, the term describes either a media stunt deliberately timed to influence a presidential election, or a spontaneous event that has a similarly significant impact. This is because with national elections taking place in early November, October marks the crescendo of the political grandstanding. A news event at this stage has the potential to either cement a victory, or change the entire course of an election campaign.
Both Trump and his competitor Joe Biden had already made headlines in recent days, for their frankly deplorable leaders’ debate, which aired live on US television earlier this week. Well, I say ‘debate’. In this case the word has to be used in the loosest possible sense. As commentator Martyn Bradbury quipped in his column, ‘Biden came for a Boxing match. Trump came for a WWF Wrestling Royal Rumble’.
For those that didn’t see it, the debate largely consisted of two of the most influential men on the planet arguing, trading insults and talking over one another. It was undignified stuff and a sad day for US politics and their reputation on the world stage. Sadly it also seemed to sum up the divisive nature of US politics on the country as a whole, which seems bitterly divided and more polarised than ever.
Yet that was nothing compared to the jaw dropping announcement this morning that both Donald and Melania Trump have tested positive for Coronavirus, further destabilising the nation’s leadership at a critical time. The president has repeatedly talked down the severity of the virus, refused to wear a mask and held crowded campaign events in defiance of public health guidelines.
What impact this has on the elections is anyone’s guess. The polls suggest the Democrats have a seven point lead at present, though as we know from experience, you can never really tell until polling day which way the ‘silent majority’ are going to turn.
During the 2016 US elections, one of the Democrats’ most popular slogans was ‘a vote for Trump is a vote for Pence’. This referred to the widespread expectation that Trump would be impeached and have to stand down, resulting in Vice-President Mike Pence taking his place. Time proved them to be at least half-right. Trump was impeached, though he refused to stand down, ultimately saved from enforcement by a deadlock in the senate.
It looks like at the eleventh hour of Trump’s presidency however, their prediction may well come to pass. An October surprise indeed…
Tatton Takes Home the Silverware
In other news it was announced this week that our investment partners Tatton Investment Management won ‘Best Discretionary Fund Manager’ in the 2020 Moneyfacts Awards for the fourth consecutive year.
CEO and Chief Investment Officer Lothar Mentel commented:
“We are delighted and proud that Tatton has won Best Discretionary Fund Manager for the fourth year running at the Moneyfacts Life & Pensions Awards 2020, confirming our position as one of the leading investment managers in our sector. The awards are voted for by the financial advisers that use us to manage their clients' investments, so this is the strongest possible endorsement of our service.
Our passion to deliver superior outcomes for clients and advisers remains unchanged and we will continue to develop our service as we learn to live with the new normal.”
Since appointing Tatton as our investment partners back in 2018, we’ve been frequently impressed with their approach, performance and technology. They remain a key partner to our business and a safe pair of hands during what has been a challenging period for investors, so we are pleased to see them receiving further recognition.
With that I’ll close for now, but with no shortage of things to write about next week too.
In the meantime, we wish you all a pleasant weekend and look forward to catching up soon.
