Don’t Fall for the September Effect

By: Jeff Pollock It’s difficult to dispute the seasonal weakness that September historically accompanies. Many call it the “September Effect”. Going back almost a century, it’s the only month of the year when the S&P 500 statistically posts a loss more often than a gain. Since 1930, September has delivered a median return of -0.4%. […]

Sorry to Burst Your Bubble, but This Isn’t 1999

Asset bubbles occur when speculation and emotion drive prices far beyond their fundamental value. With the S&P 500 delivering double-digit gains in 2023, 2024, and 2025, it’s easy to see why some assume we’re in one today.  While every bubble has its own backstory, they all follow a familiar pattern. Here are some of the […]