So far this decade, the market hasn’t done very well except for one small phenomenon—the first trading day of the month. Through Thursday, the S&P 500 is down 39.5% for the decade. But the market has returned over 21% on the first day of the month (neither figure includes dividends).
What’s interesting is that first days of the month occur less than 5% of the time, so sitting out the rest of the time would have been a smart strategy. How’d you like a job that probably improved your performance if you took vacation over 20 days a month?
