Observations and Perspectives: Pass the Pepto-Bismol
As stocks reach record highs, it’s worth re-visiting the ride to get here. It’s not unusual to see pullbacks in stocks, but over the past 12 months, investors in U.S. stocks have suffered two 12+% drops in the S&P 500 and in the process made a full 2.85%. That includes dividends. As you likely recall, the U.S. market had the worst start ever to a calendar year in 2016. Happy New Year and please pass the Pepto-Bismol.