Before you even consider changing your portfolio based on the expected—or actual—results of the election, it's vital to analyze the conventional wisdom first.

Is gridlock good—that is, should investors root against having the same political party control both Congress and the White House? Who is better for stock and bond returns: Republicans or Democrats?

Most of the answers you are likely to find are propaganda or wishful thinking; many are flat-out wrong. What matters are changes in interest rates, not which party passes through the White House gates.

The Winner for Investors Is...
by Jason Zweig
http://online.wsj.com/article/SB10000872396390444592704578066683295046230.html