Sell in May and go away, and come back on St. Leger's Day. Most Liberty Through Wealth readers have probably heard that investing adage. Or at least the first half of it. The question today is, is it still relevant? The saying is centuries old. And for those who are unfamiliar, St. Leger Day is the date of a classic horse race in England that's run every September. London bankers and merchants would sell their shares before summer arrived and retire to the country. In late September (after the big race), they'd return to the city and the stock market. The analog in modern times is Wall Street traders trimming their positions in late May before heading to the Hamptons (or better, the Jersey Shore) for the summer. And over the years this saying has held up well enough... |
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