Articles

Politics as (Un)usual: How the Presidential Election Could Impact Financial Markets

By Rich Shopes

Karen HolbrookDavid Kotok

USF Sarasota-Manatee campus Regional Chancellor Karen Holbrook (top)
David Kotok (bottom)

SARASOTA (November 9, 2020) -- The roller-coaster presidential campaign, and still to-be-determined results of the election, have many investors concerned about the impact that politics will have on the future of financial markets. 

To help sort through the election results and guide investors through these uncertain times, USF will host a virtual panel discussion on financial markets on Nov. 17 from noon to 1:30 p.m. Financial experts from the Sarasota-Manatee campus within the Muma College of Business and Sarasota-based Cumberland Advisors will share their expertise and insights to guide investment strategies. 

The “Post-Election Financial Markets” webinar is free and open to the public. To register click here.

“We are delighted to once again partner with David Kotok and his team at Cumberland Advisors to present an informative conversation about the markets with experts who have navigated uncertain times,” USF Sarasota-Manatee campus Regional Chancellor Karen Holbrook said.

“We have experienced COVID shock in an election year that has created extraordinary uncertainty in our financial markets,” said Kotok, who serves as Cumberland’s chief investment officer. “We went into a full depression in six weeks in February and March, and now we have underway a dramatic and uncertain recovery with historically low interest rates, massive market volatility and an uncertain financial future.”

Kotok, who co-founded Cumberland in 1973, is a long-time USF supporter and frequent contributor to Bloomberg TV. His insightful articles and financial commentaries have appeared in the New York Times, the Wall Street Journal, Barron’s and other national publications. The event also is sponsored by the Global Interdependence Center, based in Philadelphia.

Panelists from Cumberland include John Mousseau, president, chief executive officer and director of fixed income; Robert Eisenbeis, chief monetary economist; Patricia M. Healy, senior vice president of research and portfolio manager; Matthew McAleer, executive vice president and director of equity strategies; Bill Witherell, chief global economist and portfolio manager; and Leo Chen, portfolio manager and quantitative strategist.

Jean Kabongo, campus dean in the Muma College of Business and a professor of strategic management and entrepreneurship, will moderate the panel. Also set to participate is Eddie Sanchez, a finance instructor at USF, director of the Bloomberg Financial Markets Lab at the Sarasota-Manatee campus and a longtime hedge fund portfolio manager and securities analyst.

The session’s topics include:

  • Overview of the Political and Economic Landscape: The Election’s Implications 12:10-12:25 p.m.: David R. Kotok
  • Bond Markets and Credit: Interest Rates, the Fed and Congress 12:25-12:50 p.m.: Eddie Sanchez, John R. Mousseau, Robert A. Eisenbeis and Patricia M. Healy
  • Domestic and International Equity Markets: Post Election 12:50-1:15 p.m.: Matthew McAleer, Bill Witherell and Leo Chen
  • Q&A with Panelists, 1:15 p.m.-1:30 p.m.: Matthew McAleer, Bill Witherell and Leo Chen

Here is are brief bios of the speakers:

David R. Kotok co-founded Cumberland Advisors in 1973 and he has served as its chief investment officer since inception. His articles and financial commentaries have appeared in the New York Times, the Wall Street Journal, Barron’s and other publications. He is a frequent contributor to Bloomberg TV and has authored or co-authored four books, including the second edition of “From Bear to Bull with ETFs” and “Adventures in Muniland.” He serves as a director of the Global Interdependence Center and holds a bachelor’s degree in economics from The Wharton School at the University of Pennsylvania and a master’s degree in organizational dynamics and a master’s degree in philosophy, both from the University of Pennsylvania.

John R. Mousseau is president, chief executive officer and director of fixed income at Cumberland Advisors. He serves as a portfolio manager and oversees portfolio construction, management, analysis, trading and research for all tax-free and taxable bond accounts. He is co-author of the book “Adventures in Muniland,” and he has taught at the New York Institute of Finance and the Bond Market Association. Mousseau has more than 35 years of investment management experience. He holds a bachelor’s degree in economics from Georgetown University and a master’s degree in economics from Brown University.

Robert Eisenbeis serves as chief monetary economist at Cumberland Advisors. In this role, he advises Cumberland’s asset managers on developments in U.S. financial markets, the domestic economy and their implications for investment and trading strategies. Before joining Cumberland in January 2008, Eisenbeis served as executive vice president and director of research at the Federal Reserve Bank of Atlanta and prior to that, he was the Wachovia professor of banking at the Kenan-Flagler School of Business at the University of North Carolina at Chapel Hill. Eisenbeis holds doctoral and master’s degrees from the University of Wisconsin and a bachelor’s degree from Brown University.

Leo Chen serves as a portfolio manager and quantitative strategist at Cumberland Advisors. In this capacity, he oversees equity strategies that focus on volatility and market sentiment. Chen specializes in quantitative analysis, particularly in time-series empirical research. Chen’s research has been cited by the Wall Street Journal, Barron’s, MarketWatch and various media in Asia and Europe. He earned a doctorate in finance from USF and a bachelor’s degree in economics from the University of Rochester. Chen is the director of the Student Managed Investment Fund at USF, a fund under the USF Foundation. He also serves as a member on the university’s 403b Retirement Investment Committee.

Matthew McAleer serves as the executive vice president and director of equity strategies at Cumberland Advisors. He is a member of Cumberland’s board of directors and executive committee, and he is responsible for overseeing all aspects of Cumberland’s equity group, including portfolio management, research and trading. With a focus on quantitative research, McAleer utilizes detailed trend, price and relative strength analysis to manage portfolio construction and to identify investment opportunities across multiple asset classes. He earned a bachelor’s degree in marketing and economics from Rider University.

William H. Witherell serves as Cumberland Advisors’ chief global economist, focused on international research as it relates to equity opportunities overseas. In addition, he serves as a senior consultant for finance and corporate governance to the Organization for Economic Cooperation and Development. Witherell has worked in the international economic and financial relations field, with positions in the U.S. Department of State and Department of the Treasury as director of the Office of Financial Resources and Energy Finance. He holds a master’s degree in economics and a doctorate from Princeton University.

Patricia M. Healy is a senior vice president of research and a portfolio manager at Cumberland Advisors. In that role, she provides integral research and insight while serving as a member of the team managing portfolio construction, management, analysis, trading and research for tax-free and taxable bond accounts. She has commented for the New York Times, the Philadelphia Inquirer and other media. She holds a bachelor’s degree in finance from the State University of New York at New Paltz and holds a Chartered Financial Analyst designation. Additionally, she is a member of the Municipal Analysts Group of New York, the CFA Institute, and the New York Society of Securities Analysts.

Eddie Sanchez Jr. is a finance instructor at the USF Sarasota-Manatee campus and the director of the campus’s Bloomberg Financial Markets Lab. He earned a doctorate in business administration with a concentration in finance from the University of Florida. He received a master’s degree in business administration and portfolio management/security analysis from the Heider College of Business at Creighton University and a master’s degree in economics from Trinity College. Sanchez’s research focuses on municipal bonds, hedge funds, mutual funds, capital markets and financial institutions. He has more than 20 years of experience as a hedge fund portfolio manager and securities analyst.