Fisher Investments’ Founder, Ken Fisher, Debunks: “Sell in May and Go Away”
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- Опубліковано 27 кві 2023
- Fisher Investments’ founder, Executive Chairman and Co-Chief Investment Officer Ken Fisher debunks the common myth that investors should “Sell in May and go away”, along with other seasonal stock market adages. This old saying suggests stock prices typically decline for a period of time starting in May. Therefore, investors should sell their stocks in May and buy back in to the market after the summer months to avoid potentially poor returns. As Ken wrote in his book Debunkery, seasonality myths like “Sell in May” or “So goes January” are just that-myths-and they are not supported by data.
Ken says that while May does have a slightly below average-but still positive-long-term history of returns, the period from May to September is also positive. During those months, only September is historically negative, and that can be attributed to four specific negative Septembers. According to Ken, basing investing decisions around seasonal investing adages is similar to predicting a bull market based on whatever team wins the Super Bowl-neither make logical sense. As Ken points out, markets frequently have some randomness to returns that calendars alone cannot explain.
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Investing in securities involves a risk of loss. Past performance is never a guarantee of future returns. Investing in foreign stock markets involves additional risks, such as the risk of currency fluctuations. The foregoing constitutes the general views of Fisher Investments and should not be regarded as personalized investment advice. Nothing herein is intended to be a recommendation. The opinions expressed are subject to change without notice.
Love your updates and podcasts!
Love your book! Thanks for sharing
As a semiconductor engineer, we are most busy in Summer to meet the demand of our customer who puts out a new product in the September to sell through Thanksgiving and Christmas. Seasonality dose seem to exist in corporate America where 2/3 of consumers spending is happening in Q4.
Thank you for clarifying the noise out there.
Thank you
Great to hear thoughts in Dallas this week.
soo interesting!!
You mention that the sector that lags in the bear leads in the bull for 8 or so months. When that time period ends, does that sector typically continue to match the broader market return, or does it plateau at the point of its initially larger gain with the broader market catching up?
Ken I love your content, but how is it possible that there is in the News an actual video from Laidler from eToro claiming contrary?!
Aways enjoy your videos. Thanks for your insight
Great show Ken, sometimes I sell in the last week in August and start buying in the middle of October but not often. I never though about the football connection. I think it has to do with School, we are thinking more about getting our kids or ourselves to school and making sure our days are going smoothly, so my though is we still have sellers buy the buyers are taking care of school stuff. If you drive a half hour to an hour to work you will it takes and extra 5 or 10 minutes to make to work. Those extra cars are people that can’t be buying stocks.
enjoying the book.
Thanks. It is really silly with all these phrase the media comes up with. If there is a good deal in May, just buy.
👍👍👍👍👍👍👍❤️❤️❤️❤️
Good to debunk these wall street sayings
Sell in May means taxes to pay.
Dont do it!
To authoritatively debunk a theory i would prefer far more statistics to back up their claims.
Does Ken Fisher really go fishing?