2022 was a brutal year for investors, with few places to hide.

November was a strong month for equities, despite ongoing concerns surrounding inflation and central bank policy action.

In October, the developed market equities market saw its first positive monthly return since July.

2022 has dealt a blow to the 60/40 portfolio. While losses in a 60/40 portfolio are not unusual, losses in stocks and bonds simultaneously are unusual.

Midterm elections are around the corner, and the outcome will determine which party has control of the House of Representatives and the Senate.

After a summer rally, volatility is back in full swing. 2022 has challenged investors’ patience as almost every investment has had negative returns, with the exception of commodities, the US dollar, and cash.

August posed challenges for equity markets with US equities (-4.1%) and international developed equities (-4.7%) both in the negative.

When volatility strikes and stock markets decline, it can rattle even the most experienced investors. As behavioral science tells us, the pain of an investment loss is felt more keenly than the enjoyment of an investment gain.