Tax Loss Selling, Window Dressing & The January Effect in 2023

Extreme Return Dispersion in 2022

2022 has been a very bad year for the stock market. The S&P 500 is down -20%, the Nasdaq is down even -34%. Almost three years after the outbreak of Covid-19, the Nasdaq now trades merely 5% above its pre-Covid high - as if the acceleration of digitalization, three years of compounding, and some 16% cumulative nominal pr…