All-time highs have been great times to invest in the stock market 📈

New all-time highs are quick to follow, and returns have been strong 💪

History’s most memorable bear markets often followed all-time highs in stock prices.

The pandemic market crash followed an all-time high in February 2020. An all-time high in October 2007 preceded the global financial crisis. The dotcom bubble burst after the market set an all-time high in March 2000. And so on.

But listen very carefully: Just because major market drawdowns are often preceded by record highs doesn’t mean all-time highs are often followed by major market drawdowns.