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Investing Specialists

Ultimate Stock-Pickers' Top 10 Buys and Sells

What top managers were doing in the months leading up to the global equity market downturn.

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By Greggory Warren, CFA | Senior Stock Analyst

Had we known that talking about a correction would bring one about almost immediately, we would have adjusted our portfolios before publishing our last article. As you may recall, we noted that it had been more than three years since we had a genuine price correction of at least 10% in the U.S. markets (as represented by the S&P 500 Index), and while we didn't see a near-term catalyst for a meaningful correction in the markets we were not alone in believing that we were due for one. We went on to highlight that there have been a few periods when the markets have charged higher for a number of years without too many pullbacks in excess of 10%, generally during periods of much stronger economic expansion than we are seeing today. However, we noted that corrections are generally unpredictable, with the past two weeks being a prime example.

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The Morningstar Ultimate Stock-Pickers Team does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.