Congratulations, investors, you've made it through seven months of 2020... even if it feels like it's taken five years to get here.
There's little question that the coronavirus disease 2019 (COVID-19) pandemic has wreaked havoc on the U.S. economy and tested the resolve of investors like never before. We've borne witness to the fastest bear-market decline in history, as well as the strongest single-quarter rally in 22 years. Frankly, no one knows what to expect next, save for ongoing volatility.
Thankfully, bouts of volatility have historically been good news for long-term investors. That's because periods of fear and panic that lead to volatility allow investors to purchase great companies at a perceived discount.