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Concerned About The Election? Take Profits Off The Table Now, Strategist Says

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Concerned About The Election? Take Profits Off The Table Now, Strategist Says

The U.S. presidential election is weeks away, and there will be "surprises here and there" that could add new volatility to the markets, B. Riley FBR Chief Global Market Strategist Mark Grant said Monday on CNBC's "Squawk Box."

What Happened: The presidential election is entering an "uncertain" path ahead, as polls can't be trusted, Grant said.

The prudent course of action might be taking some profit off the table and "protecting yourself" from any fluctuations, he said. 

"I am just cautious at this point in time, I have never seen an election like this in my lifetime and I think people have to be ready to deal with whatever is going to come." 

Why It's Important: Typical presidential elections pit a candidate that is a "little right" with one who is a "little left," Grant said.

But this time around, there is too much of a division between what the two sides represent, he said. 

What's Next: If volatility returns to the equity markets in the coming weeks or months, it is "going to cause difficulties" for a broad group of people, including retirees, pension funds and university endowments, the B. Riley FBR strategist said. 

A cautious approach towards stocks is warranted "until at least the election is over," he said, adding that in no way should investors constitute this as a call to "get out of everything."

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