Despite current market volatilty, some seasoned market players still have wisodm to offer.
Citigroup Inc.'s chief U.S. equity strategist Tobias Levkovich tried to inject some hope, pointing out that since 1929 the average bear market has seen a 36.5 per cent decline in the S&P 500.
“Bear markets are always horrible and investors feel like they will never end as a general sense of malaise sets in, but the history is quite revealing,” he said. “The current one is bordering on 46 per cent, while the average rally one year after the bottom has been 42.5 per cent. Thus, following the losses since last October, it seems foolhardy to sell now.”
