volatility has returned

In February 2018, stock markets experienced more volatility in one month than in all of 2017. Last year, the maximum drawdown of the S&P 500 Index was -2.8%, meaning that any investor who bought at the top of the market and sold at the bottom would have lost 2.8%. In February, the maximum drawdown was -8.6%. Market sentiments have changed. The strategy of buying any investment at any price may have worked well in 2017 but likely will not work going forward.

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