by Adam English
The history of seasonal market cycles runs into the dawn of history — quite literally for food, but also for the financial world that came much later.
Ben Jacobsen, a finance professor in New Zealand, studied all available historical evidence from 108 different stock markets around the world. His statistical tests detected the seasonal pattern in the United Kingdom stock market as far back as 1694.
Jacobsen even managed to find a Financial Times article dating back to 1935 that refers to the “Sell in May” pattern and implies that it was well-established with market watchers, investors, and financiers.
So yeah, these Sell in May articles are nothing new. However, most of them are simply terrible. Like, ‘what can we trust that worthless intern with’ terrible.