As the 2024 presidential election is just under three months away, Kace Capital Advisors managing partner Kenny Polcari joins Morning Brief to discuss how a Harris or second Trump administration could impact the economy and how investors can best position their portfolios ahead of November.

"We kind of know where Trump stands in terms of the economy and policies that he'd like to implement. We still have not heard from the other side. We have not heard from Kamala Harris's campaign on what her policies are. She's out there waving to everybody, saying I'm going to change things and I'm going to do this and I'm going to do that, but there's no policy. You go to her website, there's no policy," Polcari explains.

He notes that a lack of clear policies is causing uncertainty in markets (^DJI, ^IXIC, ^GSPC). If Harris were to establish a platform, investors would be able to properly assess their positions and better understand how the economy may respond to her administration.

Polcari encourages investors to take a defensive approach to their portfolios, investing in areas like consumer staples and utilities. As the tech sector experienced intense volatility last week, Polcari sees a dip in a name like Nvidia (NVDA) as a "screaming buy."

"It's down 30% in Nvidia when the story hasn't changed, was a real opportunity for the long-term investor that's looking out 5, 10, 15, years." Polcari adds that August to October is historically a weak time for markets, and as the markets go lower, investors should either get more defensive with their portfolios or invest in US Treasuries (^TYX, ^TNX, ^FVX).

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Melanie Riehl