Equities Gain 19.2% in Five Trading Days
The Standard & Poor's 500 Stock Index rocketed to gains of 19.2% over the five trading days ending November 28, 2008. As of the same date, the S&P 500 was down 37.7% year-to-date, on pace for its worst calendar year since 1931, when the index fell 43.3%.
It is worth noting that in the five-year period after 1931, the S&P 500 gained a total of 176%, or an average annual total return of 22.5%, according to BTN Research.
While stock market lows are only recognized in hindsight, the recent rebound in the U.S. equity market points to the futility of market timing and the need for investors to have patience and discipline.