Month: June 2018
Should You Take a Summer Vacation From Your Investments?
There’s an old saying you’ve probably heard that gets repeated every year in the spring and early summer that goes “Sell in May and Go Away.” But is that good advice? What’s the best thing for you and your investments over the historically slower summer months? The phrase sell in May and go away is thought to originate from an old English saying, "Sell in May and go away, and come on back on St. Leger's Day" (pronounced “ledger”). This phrase refers to a custom of upper class aristocrats, traders and financiers who would leave London to spend the summer months in the country. Specifically, it refers to the St. Leger's Stakes, a thoroughbred horse race held in mid-September. It turns out that the saying is based in solid analysis - From 1950 to around 2013, the Dow Jones Industrial Average has had an average return of only 0.3% during the May to October period, compared with an average gain of 7.5 percent during the November to April period, according to Forbes. But, since 2013 there’s good reason to believe that’s no longer the case. For example, the S&P 500 rose nearly 7% from the beginning of last May through the end of October, according to YCharts. The blue-chip index was up 5% during May through October of 2016 as well. The market did fall in the May-October period of 2015 because of concerns about China. But the S&P 500 enjoyed a 7% pop from
What is Cryptocurrency, and is it a Good Investment?
Why is there all of this talk about cryptocurrencies, and should we be listening? Bitcoin began 2017 worth $1,000 per coin, but closed the year at more than $19,000. Other so-called cryptocurrencies—digital currency that is sent and received electronically—are also soaring in value. There are over 1,000 cryptocurrencies in existence. The perceived value of one cryptocurrency over another is based on the notion that the holder of the digital currency gains exclusive access to a given type of blockchain technology,” says Mark Williams (Questrom’93), a Questrom School of Business master lecturer in finance and executive-in-residence. Blockchain uses a volunteer computer network, controlled by no one, to record cyber-currency transactions that while public, link to just an electronic address. Enthusiasts foresee blockchain technology being applied to stocks, bonds, contracts, and other assets. Some speculators view this as a lottery ticket, and if the market adopts your blockchain type, the payday will be astronomical. But this has also created an extreme asset bubble. Betting on a particular cryptocurrency is fraught with uncertainty and high risk. My advice to those contemplating buying cryptocurrencies: do your homework first, understand your personal risk tolerance, and if interested, commit only an amount of money that you are willing to lose and that won’t impact you financially if it is a total bust. For risk-adverse investors, st
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