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From 1965 through the end of 2021, the compound annual return for the S&P 500 – the market’s benchmark – was 10.5% a year, including reinvested dividends, according to Warren Buffett’s latest letter to Berkshire shareholders. (Buffett cribs the numbers from FactSet.)
OK, so at least mildly interesting.
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We are flirting with a bear market, typically defined as a decline of 20% or more in the broad stock indexes. We’ve seen several weeks of whipsaw trading and heavy losses. (The S&P 500 is down about 17% year-to-date.)
Also worthwhile: Traders are skittish.
The Volatility Index, which measures sentiment by comparing the volume of futures contracts, has risen from its usual level of about 15-20 to an elevated 30. Investors are worried about interest rates, inflation, war
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