Data going back decades shows that, on average, September is the worst month for U.S. stocks – and by a considerable margin. So should investors brace for another bumpy ride this year? Almost certainly, and not just because of the “September effect.”

If the market saying “Sell in May and go away” had any validity, September would be a bumper month, with investors returning from their summer holidays eager to buy back stocks that, presumably, had become cheaper since Memorial Day.

But history suggests the opposite.

Since 1950, the S&P 500’s average return in the month of September is negative 0.68 per cent, according to Carson Group’s Ryan Detrick. If you round to one decimal place, September is the only month with an average negative return in the last 75 years.

And there have been mor

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