Wow, that was a good quarter wasn’t it! The S&P closed +1.54% (+19.9% for the quarter), which makes Q2 the best quarter since 1998. I was 4! Granted, this is a truly unique situation we find ourselves in which makes it hard to call Q3. So let’s perhaps look for clues in history. All 8 quarters +15% or more since 1945 have been followed by another robust one (with an average +9.5% gain). It doesn't feel from today's action that that is anything like possible but we'll see (puts note in diary for end Sept).
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