Five figures from a freaky fortnight
It's been a rough two weeks
Forgive the alliteration. There's been an awful lot of hyperbole written about the markets over the past week. I thought it might be nice to take a deep breath and look at some raw figures that might help to put things into context. I don't have any real point here... take from it what you will.
- The S&P 500 is down ~9% from it's all time high. It is up 383% since 2009.
- Before last week, the S&P 500 had gone 403 consecutive trading days without a 5% pullback. This was the longest consecutive run of this kind in history.
- This week, the SMALLEST % change in the S&P 500 (up or down) was .5%.
- In 2017, the S&P 500 only dropped more than 1% four times. It never dropped more than 2%.
- In the past 11 trading days, it has dropped more than 1% four times. It has dropped more than 2% three times in the same period.
- The market is basically where it was at Thanksgiving.
What does it all mean? I honestly have no idea. Here are my thoughts, if you must have them.
- I know, from a long term historical viewpoint, this is a tiny little blip on the screen.
- I know, from a short term historical viewpoint, this is some fairly intense volatility.
- I know I'm not buying and I am not selling either.
- I know that I am glad that I am diversified, because the biggest drop my portfolio saw in a single day was a little over 1%. That's a lot better than 4.5% if I was all stocks.
That's all! Hope everyone is doing well during this somewhat annoying spell. What's your take?