“In December we asked, what can we expect from 2020?” Nour said. “Keeping in mind that it’s an election year in the United States, the S&P 500 had given over the past 60 years a positive return in 14 out of 16 presidential elections, or 87.5% of the time, with an average return of 9.8%.  However, the year 2019 was ending with the S&P 500 at 21.6x trailing earnings as the index returned nearly 29% in USD (price return) in a flat earnings environment.  While this trend may continue, it is rare. Using several measures, we expected the S&P 500 earnings to be flat to negative throughout the first half of the year.”

Elie Nour of Nour Private Wealth shares how a disciplined investing approach bears fruit during times of crisis.

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