As Goes January, so Goes the Year? A Quantitative Look
January 30, 2014 at 16:24 PM EST
The saying, “As goes January, so goes the year,” has been commonplace on Wall Street since 1972 when introduced by Yale Hirsch. From 1950 through 1984, full year returns correlated with January’s performance at a rate of roughly 75 percent. Per efficient market theorem, this trend should have ended when investors