Lesser challenges have derailed past bull markets. And yet, we’re thirteen years into the post-Great Recession uptrend. All but three of those years have featured double-digit S&P 500 returns. The last three years have been the best run since the late 1990s.

What a wonderful time to be an investor, right?

Second, 2020 should humble investors from drawing direct lines from the news or their lives to stock markets. Most expect the market narrative to match their worldview. Often, this approach allows fear to drive action. There are too many variables with too much unpredictability, uncertainty, and potential bias for anyone to reliably draw these lines.