Take a look
By the market close on Dec. 24, the S&P 500 stocks were down 20% from their September high, putting them at 18 times trailing 12-month reported earnings. For anyone with a contrarian bent and cash to invest, it seemed the market was presenting a wonderful holiday gift. But that gift was quickly snatched away: Three trading days later, the S&P 500 had bounced back 6% and valuations are a tad less appealing.
What to do? We all have different financial situations and are at different stages in our lives, and that will drive how we react. Here’s what I’ve been doing—and plan to do.