A quote from TIME Magazine published on September 28th:
If America’s economic landscape seems suddenly alien and hostile to many citizens, there is good reason: they have never seen anything like it. Nothing in memory has prepared consumers for such turbulent, epochal change, the sort of upheaval that happens once in 50 years. That may explain why so many voter polls, taken as the economy shudders toward the November election, reveal such ragged emotional edges, so much fear and misgiving. Even the economists do not have a name for the present condition, though one has described it as “suspended animation” and “never-never land.”[i]
I suspect you found yourself nodding your head as you read that.
I told you the month and date that excerpt was published: September 28th.
Perhaps I should tell you the year.
Happy 30th anniversary, TIME article.
The S&P 500 closed on September 28, 1992 at 416.62[ii]
It closed September 28, 2022 at 3,719.04[iii]
% change over that 30-year period: +793%
Not to beat a dead horse, but if you reinvested your dividends, the total return over that period rises to +1,480%[iv]
Harry Truman once said, “the only thing new in the world is the history you don’t know.”
This has been Adventures in Financial Journalism, an occasional series.
Here’s your obligatory disclaimer that you cannot invest directly in the S&P 500 index, and an individual investor’s performance would differ from the above data given trading costs, expenses, etc. I use the S&P 500 index here as a benchmark for the stock market writ large, as is customary.
Sean Cawley, CFP®
Neither asset allocation nor diversification guarantee against investment loss. All investments and investment strategies involve risk, including loss of principal.
Content here is for illustrative and educational purposes only. It is not legal, tax, or individualized financial advice; nor is it a recommendation to buy, sell, or hold any specific security, or engage in any specific trading strategy. Results will vary. Past performance is no indication of future results or success. Market conditions change continuously.
This commentary reflects the personal opinions, viewpoints, and analyses of Resolute Wealth Management. It does not necessarily represent those of RFG Advisory, clients, or employees. This commentary should be regarded as a description of advisory services provided by Resolute Wealth Management or RFG Advisory, or performance returns of any client. The views reflected in the commentary are subject to change at any time without notice.
[iv] YCharts, SPX Total Return Chart, 09/28/1992 – 09/28/2022