As stated in this post by Ben in A Wealth of Common Sense, titled “Easy Money is Money Easily Lost” (read here).
To quote:
“Jason Zweig discovered in the year following the bottom from March 23, 2020 to March 23, 2021, 96% of U.S. stocks had positive returns. That was the highest percentage of winners over any 12-month period in history.
It was too easy.
Everyone was getting rich investing in stocks, crypto, SPACs, IPOs, collectibles, NFTs, you name it.
…..
Most of those stocks have now completely given up those gains.
I compiled a list of 2020’s stock darlings to show the insane returns they had from the bottom in March 2020 along with the current drawdowns from the heights of those gains:
This was easy money that was money easily lost.” Unquote.
And not too long about we witnessed the crypto Terra Luna crash....
