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Is there any truth to saying “sell on Rosh Hashanah, buy on Yom Kippur?”

Since September is historically a lackluster month in the stock market, it can make sense to follow this modern proverb. There is an old saying on Wall Street, which stipulates that you should sell your positions on Rosh Hashanah (the Jewish New Year, which comes usually in September or October), and establish a new position on Yom Kippur (Jewish Day of Atonement), which usually comes a week later. Continue reading...