Wall Street Pros Avoid Election Bets With Race Too Close to Call
- Hedge funds show no clear positioning ahead of vote: Goldman
- Traders advise looking at individual stocks over broad indexes
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In less than a month, Americans will vote in one of the most consequential elections in US history. But on Wall Street things are eerily quiet, as the so-called smart money is reluctant to wager on what’s about to happen.
“Never bet on the flip of a coin,” said George Ball, head of the Houston-based investment firm Sanders Morris Harris. “The election is too close to permit thoughtful investment positioning.”