Mark Grant, chief global market strategist at B. Riley FBR, was on CNBC on October 12, 2020. What Mr. Grant said was perfectly timed with brokerage firms raising their margin maintenance requirements.
Mr. Grant told CNBC’s audience, “Today I am somewhat concerned. I think the closer we get to the election, the more the focus is going to be on the election and I think there could be surprises between here and there. I don’t trust the polls. It is a very uncertain time for the next few weeks and I think people should look both at their bond and equity portfolios and if they have nice profits I’d be taking some money off the table and just protecting yourself. I’ve been around a very long time and I’m just cautious at this point in time. I’ve never seen an election like this in my lifetime and I think people have to be ready to deal with whatever’s going to come.”
Despite uncertainty around the election and stimulus, the Dow has now turned positive for the year for the first time since Sept. 2 but that hasn’t been without bumps in the road. Mark Grant, chief global market strategist at B. Riley FBR, joins “Squawk Box” to discuss whether the markets will continue to trend higher heading into the elections or whether investors are in for a bumpy ride.