It’s the Lunar New Year. And according to the Chinese Zodiac, we have entered the year of the snake.
But if history predicts the future (and it usually doesn’t), than this could end up being an underperforming year for stocks.
From LPL Financial ‘s Jeff Kleintop:
Chinese Lunar New Year – 2013 is the year of the snake. A look back at average annual stock market returns from 1950 by zodiac sign shows us that the year of the snake has been the worst performing and one of only two zodiac years with negative returns. Unfortunately, this year’s animal has not been lucky for investors [Figure 1].
Photo: LPL Financial