FYI: One of the benefits, maybe the only benefit of watching the market as closely as I do, being that I’m not an active trader, is that I’m constantly reminded that I have no idea what’s going to happen.
The S&P 500 (total return) has experienced eight straight years of gains. It’s been five and a half years since a 20% decline. The CAPE ratio is at 28. And a new administration entered the White House. Coming into 2017, I don’t think many people would have predicted we’d experience below-average volatility in the stock market.
For the first half of the year, the average absolute daily price change, meaning all negative signs are removed, is just 0.32%. If the year ended today, this would be the smallest daily price change since 1965! It’s hard to imagine a period in which there’s been such a wide gap between daily political volatility and daily stock market volatility.
Regards,
Ted
http://theirrelevantinvestor.com/2017/07/12/the-constant-reminder/
