If you look back at American history, we have gone through many wars, economic depressions, presidential changes, and various other challenges. However, from 1900 to now, the Dow Jones Index has grown from 66 points to over 12,000 points. Despite many difficulties and uncertainties along the way, the overall trend of the American economy and business development has been upward. This is precisely why long-term investment in quality companies can yield substantial returns.

In fact, there have been many presidents in history who have disturbed the stock market; Buffett is already very familiar with this. Now, thinking carefully, since Trump is running for election, the probability of Trump being elected is 50%. Buffett has already taken this probability into account in his positions based on his previous term's performance.

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