![]() ![]() It’s the calm of last year, when stocks rose almost 28% but fluctuated with about two-thirds their usual intensity, that was abnormal. There’s nothing abnormal about the way stocks have been heaving up and down the past few weeks. Then, recognize that what kind of an investor you are matters more than which investments you own. ![]() First, put the market’s recent fluctuations in long-term perspective. In a speech in 1963, the great investment analyst Benjamin Graham said: “In my nearly 50 years of experience in Wall Street I’ve found that I know less and less about what the stock market is going to do, but I know more and more about what investors ought to do.” Stocks gyrated the rest of the week, with the S&P 500 down more than 9% so far in 2022 and the Nasdaq-100 index off more than 14%.īut what happens next isn’t the right question to ask. It sank more than 3%, then roared back up to close with a gain. On Monday, the Dow Jones Industrial Average moved 1,000 points in a single day-twice. Growing certainty that the Federal Reserve intends to raise interest rates, most likely as early as March, sent investors scurrying.
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