Some investors swear by that well-known trading adage "sell in May and go away". This would mean that next month would bring low trading volumes, thin liquidity and even worse for some – a stock market selloff that permeates over the summer months.
Will this year be any different? And is it worth either staying on the side lines or going on vacation until St Leger day, the U.K. horse race in September that signals the unofficial end of the summer? Some of the best performing hedge funds last week gathered at the Investors Choice Awards and signaled that the next couple of months could be lucrative.
"I believe the famous (theme) sell in May and go away, statistically, has proven to be right historically," said Stefano Prosperi, chief executive of Kairos Investment Management Limited.