Seasonal (Tail)winds

October has had a bad reputation in the stock market. To be fair, it’s somewhat warranted—some of the stock market’s most spectacular crashes have happened in October, including the S&P 500’s 27% slide in October 2008 at the height of the financial crisis. Thankfully, we haven’t seen any moves of that magnitude this October, but investors are still on edge after a bout of market swings to start the month. Some volatility is par for the course, however, at this point in the year. Since 1950, the S&P 500 has posted more 1% daily moves in October than any other month of the year.

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