If Donald Trump manages to gather the 270 electoral votes he needs to win by the end of Tuesday, buying in equity markets would be a smart move, said strategist Mark Grant.
Trump's proposed corporate tax cut, which would reduce the rate to 15 percent, "would just be a tremendous boom for corporate earnings in the United States," he told CNBC on Tuesday.
And, in light of the expected downturn markets will take if Trump wins, "I would use any drop to buy in the equity markets," Grant, Hilltop Holdings' chief fixed income strategist, told "Squawk Box."
Grant's prediction comes from what he acknowledged as a market pricing in a victory for Hillary Clinton. Markets prefer stability, he said, but the problem is the way American voters are making their choice.
"I think that very few Americans are voting for anyone," Grant said. "I think most Americans are voting against someone."
"I think there's a decent possibility we may get a big surprise later this evening," he contended.
But the possibility of a Clinton win is still very real for the markets, which saw a correlated rally after Sunday, when FBI Director James Comey saidthe bureau reaffirmed the earlier decision on Clinton's use of a private email server.