The Relief Rally
Despite popular concerns, the US election passed without contentious recounts, hanging chads, or lengthy lawsuits. On January 20th, Donald Trump will become only the 2nd president ever to be elected to a second term after leaving office. While there were certainly aspects of a “Trump Trade”, the market appeared to rally in relief of a clear conclusion. As the uncertainty has been removed, all 11-industry sectors that make up the US stock market traded higher post-election. While the election has passed, we recognize emotions are still high and divided. At times like these when the TV zooms-in on speculation, we zoom-out. Historically, the stock market has made patient investors more money regardless of politics. Politics should not play a role in portfolios, while economic policies can impact financial plans. To help you stay grounded and filter the noise, we’ve outlined our post-election commentary below.
POST-ELECTION MARKET COMMENTARY:
Market booms and busts happen regardless of who is in office. While Donald Trump will again look to the stock market as the score board of his presidency, we know it’s beyond any president’s control.
- Since 1900, every president but one, George HW Bush, has been in office during a bear market (a market decline of 20% or more). Over the same period, only three presidents, Lyndon B. Johnson, Bill Clinton, and Joe Biden, have been able to avoid a recession. [1]
- We expect the Tax Cuts & Jobs Act of 2019 (TCJA) previously initiated under Trump to be renewed with the possibility of a further. decrease to the corporate tax rate.
- We anticipate increased tariffs, specifically towards China. Tariffs have the potential to increase costs (inflation).
- We would not be surprised to see a repeal in clean energy subsidies and the elimination of electric vehicle tax credits.
- Banking stock and crypto (like Bitcoin) immediately appreciated with Trump’s win on the belief of beneficial deregulation. However, the cutting of actual "red tape" takes time.
Works Cited: [1] Cox, C. (2024, August 18). Politics and your portfolio: How the election could impact your money. OptimistiCallie. https://www.optimisticallie.com/p/politics-and-your-portfolio
Theresa’s East Coast Travels
Theresa recently enjoyed a fun filled family trip to the East Coast for her niece’s wedding near Washington, DC. Theresa, along with her family, took full advantage of the occasion, extending their stay to explore the fall beauty of Virginia, Maryland, and Delaware.
Beyond the wedding festivities, Theresa spent quality time with loved ones, including her one-year-old grandniece, Anna. Highlights include visiting the beach, exploring a family farm, and an adventurous drive through the Chesapeake Bay Bridge Tunnel. It was a wonderful opportunity for Theresa and the Foster family to gather and create cherished memories across multiple generations. We’re so glad Theresa had this joyful break with her family.
Theresa will be spending the holidays with all her children home in Montana. As these collective opportunities lessen, the competition to their annual gingerbread house making contest only seems to increase.
Adventuring Our Public Lands
The Meeks’ will be hosting family for the holidays, which will include the local Huffing for Stuffing run, a large family puzzle, and football viewing. Shout out to the undefeated MSU Bobcats! It’s been a great season and lots of fun following quarterback Tommy Mellott, who interned for the office this past summer. 
As the seasons shift, so do the Meeks’ activities. Daphne (age 7) and Brooks (age 5) have transitioned from lacrosse and tennis to peewee hockey and indoor swimming. Hockey has become a quick favorite as they were introduced to the Mighty Duck movies and the hockey pads make them feel like superheroes.
This year has been filled with milestones for the Meeks family, including the achievement of two spending goals: a new horse for Nichole and a river raft for Ryan. Nichole traveled to Stevensville, MT where she found a seven-year-old Tennessee Walker named Jazz. Jazz is a gentle, sweet-hearted, black mare, whose been a great addition to the family.
Easier to purchase was the 14-foot Rocky Mountain River raft that was used often this summer and fall floating the Upper Madison River in Ennis, MT. As intended, the raft proved to be a great reason for the family to get out and adventure on our public lands. For Ryan, time seems to stop on the river. It’s often amid the river’s ripples when Ryan is reminded why he lives in Montana.
Jase's Favorite Season
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With hunting season in full swing, Jase has been making the most of his weekends exploring different parts of Montana. Recently, Jase enjoyed a memorable trip to eastern MT to upland bird hunt with family visiting from out-of-state (as pictured). While the outing was productive, the trip proved to be one of the more eventful experiences in the wilderness for Jase. 
For upland game hunters, canine companions are essential, and Jase’s family hunt included a young, spirited German Short-Haired Pointer. This eager pup, however, has a nose for more than just birds. In this memorable encounter, he found himself a little too close to a porcupine, resulting in an unfortunate lesson and set of quills in his snout. Jase’s cousin swiftly jumped into action, using tweezers from his dog-first-aid kit to carefully remove the quills. Happily, the pup bounced back with just a bit of bruised pride. With winter approaching, Jase is excited to spend the snowy days in a waterfowl blind. In the office amidst the market rally, Jase has been meeting with clients reviewing financial plans and overall portfolio risk. As recently announced for fiscal year 2024, Jase was a top 10 user of Money Guide Pro, which is our premier financial planning software.