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Going through some newspapers before I recycled them, I found some info of interest in a Scott Burns column.
According to Ibbotson, since 1926 the equity market has:
1 Year period - 71% of single-year periods had positive equity returns.
5 Year Period - 86.8% of five-year periods (66 of 76 ) had positive returns.
10 Year Period - 97% of ten-year periods (69 of 71) had positive returns.
Which gives some numbers to think about for a cash/CD/MM/bond buffer to avoid selling off equities in a down market.
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-- Telly, the D-I-Y guy --
Two fools dancing on the hands of time
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