This podcast episode discusses the potential impact of the upcoming U.S. presidential election on retail stocks, with a focus on tax policy and trade policy. It highlights that retail stocks have historically underperformed in election years and explores the potential implications of changes in tax policy on corporate profits and retail stock prices. The episode also examines the importance of trade policy in the election, as it is largely at the discretion of the president. It discusses various scenarios and their potential impacts on macro markets and individual stocks, particularly in the retail sector. The episode concludes by emphasizing the need for investors to consider these scenarios and their potential effects on companies with North American exposure and those that have diversified out of China.
