Tom Lee of Fundstrat Predicts a YearEnd Market Rally Regardless of Election Outcome
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Tom Lee of Fundstrat Predicts a YearEnd Market Rally Regardless of Election Outcome

Fundstrat managing partner and head of research Tom Lee says that markets are setting up to rally into 2025 no matter who wins the US election. In a new interview on CNBC, Lee says that while the election has caused some “trades to reverse,” it’s also placed cash on the sidelines and ready to boost markets when the uncertainty has passed. “I’m bullish only in the sense that election uncertainty has caused people to derisk and cash to sit on the sidelines but the fundamentals have been good, earning seasons have been very good, the Fed is dovish and I don’t think it’s going to matter who ends up in the White House even if it’s a split Congress or a sweep, I think markets do pretty well either way. So it sets up for a really good rally into year-end, but when it starts in November is just what we don’t know.” When asked about Warren Buffett’s recent moves to hold more cash, Lee says the Berkshire Hathaway chairman will likely have to rethink his position next year when rates go down and holding cash becomes more costly. Buffett recently dumped over $10.5 billion worth of his Bank of America shares and slashed his JPMorgan and Wells Fargo holdings to zero. Says Lee, “I know part of it is he’s anticipating capital gains taxes could change so he’s taking those gains now, and he’s not necessarily having a big cost of money because he’s earning 5%. But next year, the cost of money is going to drop so he’ll have some pressure to deploy it.” Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X, Facebook and Telegram Surf The Daily Hodl Mix

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