Monday, April 15, 2013
Happy Tax Day!
Today
is the day taxes are due in the U.S. The
reason tax day may be important is that it is the last day that people can make
IRA contributions to count for the previous tax year. This can create a last-minute rush and you
will often have an inflow of funds heading into the market right around and on
April 15th. Fund managers will often put
this money to work immediately and it creates a positive bias for the market. Tax Day itself seems to have benefited over
the years. Below are some stats that
demonstrate this.
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