Thoughts on the Market: Markets in Transition
Larry Adam, CFA, CIMA®, CFP®, Chief Investment Officer
In our Ten Themes for 2022, we acknowledged that there was the potential for a significant increase in volatility this year after the historically subdued levels of last year. But, we emphasized that this was a return to normal volatility and a dynamic that investors needed to prepare for in advance to avoid any knee-jerk reactions. Thus far, the S&P 500 is down ~8.3% from its recent highs (the largest pullback in the current bull market) and is on pace to post the worst start to a year since 2016.