Stocks historically do much better during the November-April period than in May through October. (AP Photo/Richard Drew)
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"Sell in May and go away" is perhaps the oldest saw on Wall Street, but it appears there's no shortage of U.S. mutual funds doing exactly that this year. After all, the S&P 500 has delivered a total return, including reinvested dividends, of 10.8 percent over the last six months, essentially capturing all of the average rolling 12-month total return on the index since 1990, so why not cash in?Some hearty investors, however, stand ready to bet against that flow – and history – and are advocating a buy-in-May approach this year.In the last 20 years, a $100 investment in the S&P from November through April would have become $343 while a $100 investment in May through October in the same years would have slipped to $98.5, according to Bespoke Investment Group, in Harrison, New York.
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