What can the past two years tell us about markets in 2019
Over the break, there was a great piece written by Ben Carlson on his Wealth of Common Sense blog (if you are unfamiliar with Carlson and the blog, I highly recommend it, the link is here). In the post, Carlson breaks down the 2017 performance of the S&P 500 and compares it with 2018.
There was the obvious conclusion, 2017 was a much better year for markets than 2018, but digging down into the details revealed a lot of interesting facts. For example, the S&P 500 had zero negative months during 2017, something that has never happened in its history, and daily annualised volatility was around one-third of its long-term average. Bringing it back home, this article will look at similar statistics for the NZX 50. Will the comparison yield similar results?
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