The January effect is a seasonal anomaly where stock prices increase more in January than in any other month. This is a global phenomenon that might be explained by year end tax loss harvesting selling and January repurchasing and by investors investing some of their year end bonus in January. This should not be confused with the January barometer (some investors incorrectly refer to the January barometer as the January effect) which is the tendency for January stock market returns to predict returns for the rest of the year. Unlike the January effect this is a U.S only (specifically the S&P Global 500) anomaly and appears to be largely illusory. #anomalies #anomaly #january #stockmarket #equitymarkets #marketcommentary #investing #equities #sp500 #marketanalysis #cfainstitute #investingstrategy

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