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The ‘sell in may’ theory hinges on the idea that equity markets systematically underperform during the summer months Sell in may and go away is a popular investing proverb However, a closer look at historical data, specifically the hang seng index (hsi) from 2005 to 2024, paints a more nuanced picture.

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Sell in may and go away is a saying in finance that suggests moving over to bonds from equities each summer to avoid the supposedly weak performance of stocks during the warmer months. The costly myth of “sell in may” may 2025's strong returns for us stocks have once again shown that putting too much weight on seasonal patterns will only make investors poorer, says. Think “sell in may” still works

Discover why smart investors ignore the calendar—and how catalysts, not seasons, drive real portfolio returns.

While some investors look for seasonal patterns in the market, historical data indicates “sell in may and go away” is a myth Our 60 years of research shows that the stock market maxim sell in may and go away is misleading and detrimental to your investing performance