Why you should buy cannabis and clean-energy stocks if stocks slump and Biden wins, according to one wealth manager

• Mark Tepper, Strategic Wealth Partners CEO and president, said that a Biden win will cause a quick sell-off in the markets.
• He suggested investors reposition their portfolios with clean energy and cannabis stocks if a Biden presidency becomes more likely in the next few months.
• Tepper told Fox Business that the market has liked President Trump, and that he believes there's a "silent majority" that will cause Trump to win again.

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Mark Tepper, Strategic Wealth Partners CEO and president, said he believes signs are pointing to another Trump win, but if anything changes between now and November, investors will need to reposition their portfolios.

He told Fox Business on Wednesday that "obviously the market has liked President Trump's pro-growth and pro-business policies. That's why the stock market is up 15% annualized since he was elected." If Biden wins office, the market will "sell off pretty quickly" because taxes will skyrocket, Tepper said.

The CEO shared his tool for how investors can gain insight into who the market thinks is going to win. He said to look at the performance of the S&P 500 index from the beginning of August until the election. In past elections, when that performance was positive, the incumbent party remained in office 87% of the time, Tepper said.

If the S&P 500 trends downward as November nears, Tepper said Strategic Wealth Partners "would definitely reposition." He suggested investors seek out clean energy stocks, as Biden's campaign is emphasizing clean energy in its climate plan. The iShares Global Clean Energy ETF (ICLN) is up 40% year-to-date as of Wednesday.

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Tepper also said that investors may want to go invest in cannabis stocks for a Biden win. "Not a lot of people own any stocks in that space — that would do better under a Biden presidency," he said. The Global X Cannabis ETF (POTX) is down 34% year-to-date as of Wednesday.

But Tepper concluded that he does not expect a Biden win. "I do expect that there's a silent majority that will come out and support Trump, and I do think Trump remains in office for another four years," he said.