Expert insight

Volatile markets underscore importance of discipline

January 25, 2022

Greg Davis, Vanguard chief investment officer

Vanguard chief investment officer

Several factors suggest more volatility ahead
A history of volatility and long-term gains
The first panel of a two-panel illustration charts 30-day average intraday volatility of the S&P 500 Index since 1982. The second panel charts S&P 500 Index returns over the same period. The charts call out two instances of extended market volatility, from July to December 2002 and September 2008 to June 2009, when index total returns were down by 8.0% and 16.4%, respectively.
A time to embrace balance and discipline
Vanguard Insights

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