Despite a gain of +2.4% on Friday, the Standard & Poor’s 500 stock index declined for a sixth consecutive week – reportedly the longest losing streak since 2011.
With stocks flirting with bear market territory – a loss of -20% from the last peak on January 3, 2022 – no one can say for certain when the financial and economic outlook will improve. Predicting the future is impossible. However, we do know how difficult times like these have worked out in the not-so-distant past.
The twin crises of 2022, inflation and Ukraine, pose difficult problems with no quick fixes in sight. Today’s headlines about the war and economy were grim headlines. However, the 27 crises identified shown in this chart dating back to 1957, all came and went. Although they too posed daunting problems with no ready solution, the world’s largest economy continued to prospect and American company stocks soared.
Between February 5 and March 23, 2020, the Covid bear market erased -33.9% of the value of the Standard & Poor’s 500. On March 23, 2020, no one knew the bear market was over. No one knew Covid vaccines would be developed rapidly or that the stock market would appreciate by 71% over the following 21 months.
The Standard & Poor’s 500 stock index closed this Friday at 4,023.89. The index gained +2.39% from Thursday and was down -2.44% from last week. The index is up +57.06% from the March 23, 2020, bear market low and down -17.52% from the January 3rd all-time high.
The Clark Group Asset Management is a registered investment advisory firm located in the heart of Southern California. As professional fiduciaries, we offer unbiased financial advice that is free from the conflicts inherent at many Wall Street firms.
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Securities regulators require financial advisors to state in their public statements that past performance is not indicative of future results because investing is complicated, and nothing is guaranteed. Ironically, however,
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As a fiduciary financial advisor, we have a legal obligation to always act in your best interest and disclose any conflicts that could prevent us from servicing you. Furthermore, our compensation is fee-based which allows us to be completely objective and aligns our incentives with our client’s best interests. We provide clients in the Los Angeles, Orange County, and Southern California area with investment management, retirement planning, portfolio risk assessment, and charitable giving strategies.