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Chart of the Week
Don’t Dread the Drawdown
The S&P 500 reached a fresh low last week, closing –25% down from its January peak. While US equities may experience further downside, history suggests that those who stay the course have been rewarded. Historical drawdowns of 25% or more have delivered a forward one-year return of 27%, on average, with longer investment periods proving even more compelling. Timing the market bottom is difficult, but investors early to this recovery may see favorable returns over time.
Source: Bloomberg and Goldman Sachs Asset Management. As of October 6, 2022.