Did you buy some stocks two days ago? If you did, congratulations — it turns out that, historically, Nov. 1 is the best day of the year to invest in the stock market. That’s because most of the time September and October are lousy months for stocks.
Since 1950, the S&P has risen an average of 1.6 percent each November, easily beating the other 11 months. What’s more, November begins the best three months of the year to invest (Nov. 1 through Jan. 31) and the best six-month period (Nov. 1 to May 31).
So if you haven’t already done so, November is usually a pretty good time to buy stocks. We’ll check back in six months to see if this was true once again; and if the old adage, "sell in May and go away," is still valid.
— Chip Wood