The Price of Admission
This is the average annual return of the S&P 500 Index since 1980. As you see below this did not occur in a straight line, which is what we refer to as the price of admission. Coincidentally, the average market decline during each calendar year was -13%, reflected below through dips, corrections and bear markets. We invest through these periods, and believe investors who embrace this natural order of markets as the price of admission dramatically improve their odds of success.
This is not a recommendation to buy a security, and is shown for illustrative purposes only. Past performance is no guarantee of future results. Source: Calamos Investments and JP Morgan Guide to the Markets. Period shown represents the S&P 500 Index from January 1980 through December 31, 2020. Investors cannot invest directly in an index.
