But I'm finding it excruciating to watch the real-life US election campaign.

Put simply, I'm worried.

This is not a political column, and I can do without hate mail, so I'm not going to debate the shortcomings of Donald Trump or Hillary Clinton.

What I will say is this: if you haven't already, it's time to tune in. Most of you don't get a vote, but you can prepare – financially, at least.

The election is on November 8, little more than five weeks away. It's time to think about how a Trump or Clinton presidency would affect your superannuation or investment portfolio.

I'll start off with a disclosure, then share what the experts say.

After the shock Brexit vote in June, I moved half my super into cash. I plan to move it back into high-growth, which is more suitable for my age, after the election.

Now I'm not suggesting you copy me. I'm not in the advice business and if you want advice, you should consult a financial adviser.

Chopping and changing your portfolio goes against the conventional rules, particularly for superannuation. Most (though not all) experts say you should never try to time the market, and you should instead determine your asset allocation and risk profile based on the long term.

There are transaction costs – either fees or a price differential – to changing your asset allocation or switching between investment options. And you may miss out on dividends.

"I'd strongly advise superannuants to think long term and don't try to play these market timing events," says David Macri, the chief investment officer at Australian Ethical, which runs both superannuation and managed funds. "These events can feel substantial when you're in the moment but … they're little blips in the long-term chart."

This is probably right, much of the time.

I wouldn't suggest that you should try to time the market for every geopolitical event. Even with Brexit, for all the turmoil at the time, the markets have come roaring back.

But if you believe something is a big deal, with long-term ramifications, and you can see it coming, then a defensive strategy might be appropriate.

Some fund managers are blasé about the US election either way because the president has limited powers and central bank policy is a stronger force.

Harvey Kalman, the executive general manager corporate trustee services, EQT, says the next president can't do much more damage than his or her predecessors. "What's the worst a bad president of US can do? Take you to war and everyone hates you? It's already happened," Kalman says.

But Ophir Asset Management, a managed fund for wholesale investors that has returned 49 per cent a year since its inception in 2012, sees the US election as a serious investment risk particularly because of its ability to change investor sentiment.

Andrew Mitchell, a portfolio manager at Ophir, says this election is "definitely" different from other US elections in terms of the potential impact on markets.

"We're eight years into [a] bull market, and it's the most contentious election we've seen in a long time," Mitchell says. "Trump's an unknown quantity. We know what Hillary Clinton is, and when it was Obama versus Romney people understood it."

Mitchell says Trump's rhetoric on trade and immigration is anti-growth, though this is counterbalanced by his talk of lowering taxes.

Ophir is investing conservatively in the lead-up to the election and also the next US Federal Reserve decision on interest rates in December. Mitchell says the fund is prepared to forgo returns in the short term while risks are elevated, and also believes there may be buying opportunities in the event of volatility.

I figured by moving into cash I was buying protection against the downside if the markets reacted negatively after the US election – and I would be buying back in at a lower price if markets dropped.

The worst that could happen is that I'd be wrong either about the outcome or the market reaction, and I'd miss out on a few months of growth. Since I have at least 25 years before I retire, I can live with that.

Australian Ethical's Macri points out that if I'm wrong, I'll be worse off when I buy back into the market at a higher price.

Perhaps so, but my belief is there is more to lose from one election outcome than to gain from the other. Also markets usually fall faster and further than they rise.

Patrick Garrett, the chief executive of robo-adviser Six Park, says his advisory board is regularly discussing the US election as an investment risk, but has not changed its asset allocation so far.

He described my decision as an insurance policy that is buying me peace of mind.

This is how I see it too. Is your home owner's insurance a waste of money if your house doesn't actually burn down? The difference is I don't know how much the insurance will cost.

Ray Attrill, NAB Global Co-Head of FX Strategy, expects a big sell-off on global markets if Trump wins, with the possibility of global recession if he follows through on his threats to introduce tariffs on Chinese and Mexican imports.

"US and global equities markets would have a significant sell-off largely related to fears he might attempt to follow through on his firebrand anti-trade rhetoric," Attrill says. "It could tip the US and global economy into recession if we get involved in a significant trade war."

This time the Australian economy would be more vulnerable than it was at the time of the global financial crisis, when it benefited from stimulus spending in China as well as Kevin Rudd's package.

So I'm right to move some of my assets into cash? Not so fast.

Attrill adds that global volatility would be bad for the Australian dollar as well as global equities. The US dollar tends to be a safe haven even when it's the epicentre of the turmoil.

So it's complicated.

You can find out more if you search Google for "hedge against Trump or Clinton" – or ask your adviser.

Caitlin Fitzsimmons is the editor of Money for the Sun Herald and Sunday Age. Find her on Facebook or Twitter.