There have been 6 quarters with a return worse than -10% on the S&P index (
not counting dividends) over the last 20 years (i.e. 80 quarters). My
counting shows the following:
5 of the following quarters have been positive (i.e. 5 positive out of 6)
average 5.0%
best 19% for quarter starting 10/1/1998
worst -19% for quarter starting 7/1/2002
(this compares to 53 positive out of all 80 quarters and 2% average return
for all 80)
New quarter started prior quart next quarter
10/1/2002
