Expert insight

Vanguard CIO addresses a dismal market

September 26, 2022

Greg Davis

Vanguard Chief Investment Officer

When will the stock market hit its bottom?
The best and worst trading days happen close together

S&P 500 Index daily price returns, 1980–2021

Spikes going above and below the horizontal zero axis show the daily price returns of the index over a 41-year period. Positive and negative spikes are usually close together. Nine of the best 20 trading days occurred in years that had negative total returns. Eleven of the worst 20 trading days occurred in years that had positive total returns.
Is the United States, Europe, or China in recession today—or bound to fall into one soon—and should it matter to investors if the answer is yes?
The Federal Reserve made it pretty clear that more interest rate increases are likely in the coming months. Should investors consider waiting it out on the sidelines?
This year has been a grueling test for holders of diversified portfolios, with bond returns remaining correlated to equity returns. Have we seen a paradigm shift for the balanced portfolio?
What guidance would you offer to new investors?
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