BULLS & BEARS: Another three-peat past should mean better times
In my July 26 column, I speculated whether investors would suffer a threepeat in 2004 of negative five-year returns in the stock market. I pointed out that the five-year stretches that ended in 2002 and 2003 were losers and, unless the stock market had a great second half, 2004 likely would mark another losing period. Returns for the Standard & Poor’s 500 have been monitored and recorded for posterity since 1928. In those 76 years, there have been 73 five-year…