Principled Thoughts

Financial Principles' November Market Commentary


October was a roller coaster month bringing equities, as measured by the Standard and Poor’s 500 Index, roughly 7% below their September levels. Such volatility has brought a lot of emotions including fear and uncertainty into the forefront for many investors.

While unnerving, the market pullback is a reminder of what are defined as more “normal” markets. It has been several years since markets have seen historically “normal” volatility. Since 1980, the Standard and Poor’s 500 Index has had an average intra-year decline of 13.8% while posting positive returns in 29 of those 38 years. Despite these averages, the Standard and Poor’s 500 Index has had markedly little volatility over the last several years, not experiencing an “average” intra-year decline since 2011.

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