This New Year got off to quite an interesting start.

After a number of positive records for markets and major indices in 2018,^[1] markets began to tumble in the last quarter – and January started with a bang.

Equity markets were surprisingly exciting in the last week of the year. While both the S&P 500 and Dow Jones Industrial Average are down for 2018 (as of December 28), both indexes had huge single-day rebounds– the largest in almost ten years for the S&P 500 and the largest in history for the Dow.^[1]

Around year-end we tend to have a lot of conversations with clients about rebalancing, tax loss selling, and the role these strategies play in managing an investment portfolio. This conversation is all the more pertinent when volatility starts to spook investors – something we’ve seen in the past two months.