by Doug French via Mises
May is on its way, and the old investment saw, “Sell in May and go away,” will be tested once again. Jared Blikre, writing for Yahoo Finance, provides the history behind what may or may not be good advice. “The full axiom was originally, ‘Sell in May and go away, and come on back on St. Leger’s Day,’” he explains. “It has its roots in the City of London. Financial professionals would go on holiday in May for approximately four months to escape the summer heat and return for the St. Leger derby in mid-September.”