10 truths about the stock market

Investing for long-term returns means being able to stomach a lot of intermediate volatility.Bear markets are no picnic either: They can happen quickly, like the S&P500’s 34% drop from February 19, 2020 to March 23, 2020; and they can happen painfully slowly, like the 57% decline from October 9, 2007 to March 9, 2009.The chart below from JP Morgan Asset Management does a nice job illustrating this. The grey bars represent each calendar year’s return and the red dots represent the intra-year drawdowns.While ...