As I write, the S&P 500 has shed nearly 20% and the Nasdaq is down 33%, with both indexes falling into a bear market. Apple, the most successful company of the 21st century, slid to a 52-week low on Wednesday, a 30% drop from the highs this year. Amazon is down 50% YTD. Meta down 64%. And don’t even get me started on Tesla.
For someone who fixates on the market, it’s been a frustrating and humbling experience. Among the many lessons learned in 2022, here are four that stick out.