FMA Market Update – February 2016 Edition
February 29, 2016 | John J. Klobusicky CIO, CFA®, CAIA
Seneca, the Roman philosopher and renowned Stoic asked, “What is harder than rock? What is softer than water? Yet hard rocks are hollowed out by soft water.”
This statement is testament to the power of persistence, a trait investors were rewarded for this month as the S&P 500 surged during the last half of February, to end roughly flat after a 6% decline earlier in the month. Year to date, the S&P 500 is down around 5%.