This year the S&P 500 has fallen over 23%. With the benefit of hindsight, what were the clues that we had reached the top at the start of 2022?

And what could indicate the market has now reached a bottom and is about to resume its upward drift?

Accepted wisdom says that what matters is “time in the market, not timing the market.” Is this always true? And how does it affect how we invest?

And in today’s Dumb Question of the Week, we ask “When stock prices fall, where does the money go?”

Selected links

• Where does the wealth go when asset prices go down? (Noahpinion)
• The Buffett Indicator

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