Quote of the Day: 3% Pullbacks Since the 1920s

If you're thinking this week was at all unusual, you'll think differently after you read the following.

The first paragraph of Bespoke Investment Group's weekly report to their premium research customers puts this week into its proper long-term perspective:     emphasis mine...

If you only recently started investing, or if you have a short memory span, the last week of trading in the financial markets feels like a heck of a lot more than a flesh wound. From the 20,000 foot view of things, though, it’s all part of the regular ebb and flow. Yes, this week’s pullback was the first 3% decline from a closing high for the S&P 500 since before President Trump was elected, but going back to the late 1920s when the S&P 500 began, how many 3% pullbacks do you think there have been? 100? 200? 300? 400? 500? 600? The actual answer is 628. That works out to about seven per year.

For more, in the same vein, be sure to read the note we posted earlier this afternoon.