September is officially in swing.
America’s youth are back at their desks; its adults are back at the grindstone.
Here in Baltimore, a late-summer heat wave has us in siege… like a fever that won’t let go.
Marketwise, many consider September a calm before dreaded October.
The Panic of 1907… the Crash of 1929… “Black Monday” 1987 — all fell in October.
October’s record is so felonious that market observers have fashioned a term for it — the “October effect.”
But is it true? Is October worthy of its blackened name?
Today we haul the defendant into the dock… interrogate its record… and announce a verdict.