Biggest two-year slump since 1973-74

The S&P 500 has fallen 12 percent this year and dropped 10 percent last year.

The last time it had back-to-back declines was in 1973-74, when it had a combined loss of 47 percent. The Nasdaq has lost 20 percent this year after dropping 39 percent last year, its biggest two-year slump also since 1973-74, when it shed 66 percent.

The 70’s was a very boring decade for large caps.  With their current valuations being fairly high, we strongly suggest that one must be very selective in his/her investment choices.

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