The financial markets have gone for a wild ride. The S&P 500 experienced its worst December performance since the 1930s, yet the rebound during the first two months of 2019 ranks among the best starts to any year. The market’s gyrations almost always exaggerate the underlying fundamentals of businesses and the economy. This time around was no different—the market clearly overreacted during the final months of 2018 and has since bounced back on improved sentiment and a brighter outlook for 2019. For our thoughts, click here to read the Haverford Spring 2019 Outlook.