How to Keep Political Biases from Hurting Your Portfolio

The 2020 election is fast approaching, and with increasing concerns over issues like the coronavirus and racial injustice, divisiveness in America appears to be at an all time high.

In this episode of Your Money, Leo Daprile of Gem Young Insurance and Financial Services in Canfield explains the importance of separating one’s political opinions from their investment habits.

“We’re getting more and more politically divided as people keep drawing bigger lines in the sand over their political opinions,” says Daprile. “It’s starting to seep into people’s investment decisions.”

The key to handling your money in these emotionally-charged times, Daprile says, is to “shut off the noise.”

When the CEO of Goya Foods recently praised President Trump during a visit to the White House, for example, his company faced backlash and a nation wide boycott.

“Professional money managers aren’t paying attention to things like that,” Daprile says. “They’re going to look at how well the company is run and invest accordingly. Somebody voicing an opinion doesn’t affect how well they run their company.”

To learn more, watch the video above.

Original Air Date: July 14, 2020. Every Wednesday during the Dan Rivers show on AM570 WKBN, Daprile hosts the Your Money radio show.

About Gem Young
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