As the stock market reopens following Labor Day weekend, there is no shortage of warnings that a correction is due — which would be a pullback of at least 10% for the benchmark S&P 500 following a gain of 21% so far this year.
Then again, John Buckingham, editor of the Prudent Speculator newsletter, shared this chart, which shows how the market recovered after declines brought about by 20 “frightening events” going back to 2010: From an intraday peak Feb. 10, 2020, through the pandemic trough March 23, 2020, the S&P 500 dropped 35%. It has gained 107% since that bottom. But if you look more closely, you can see significant pullbacks of 11% between Sept. 2, 2020, and Sept. 24, 2020, and 9% between Oct. 10, 2020, and Oct. 30, 2020. Those weren’t fun periods for investors, but in hindsight they were blips. Investors fare best when they held on.
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