Image Credit: Alex Nabaum
The gap between Wall Street and Main Street has never seemed wider, but much of it is an illusion.
Since it bottomed on March 23, the S&P 500 has shot up almost 40% — the highest return over so short a period since 1933, according to S&P Dow Jones Indices. For the year-to-date, the S&P 500 is down less than 3%, counting dividends. Meanwhile, 108,000 Americans have died in a pandemic, 21 million are out of work and the country is seething with civil unrest.
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This article was originally published on The Wall Street Journal.
Further reading
Benjamin Graham, The Intelligent Investor
Jason Zweig, The Devil’s Financial Dictionary
Jason Zweig, Your Money and Your Brain
Jason Zweig, The Little Book of Safe Money