Yesterday was the 8th anniversary of the Financial Crisis lows for the S&P 500. It doesn’t qualify as the 8th anniversary of the current bull market, however, since the index didn’t close at a new bull market high yesterday. We won’t know if the bull market officially turned 8 until a new high is made past the 3/9/17 date. (If the S&P ends up declining 20% from the bull market highs reached last week, the bull market will have never made it to its 8th birthday.)
We went back and took a snapshot of the S&P 500’s index members on March 9th, 2009, and calculated the percentage change since that date of each index member that’s still in existence. Below is a list of the S&P 500 stocks as of 3/9/09 that are up 10x or more since then — the elusive “tenbaggers” that famed investor Peter Lynch loved so much.
As shown, Wyndham Worldwide (WYN) is up the most of any stock that was in the S&P 500 on 3/9/09 with a gain of 2,548%. CBS Corp. (CBS) ranks second with a gain of 2,091%, followed by Expedia (EXPE), Fifth Third Bancorp (FITB), TGNA (formerly Gannett), and Pioneer Natural Resources (PXD).
Amazon.com (AMZN) ranks seventh with a gain of 1,310%, Starbucks (SBUX) ranks tenth with a gain of 1,235%, and Apple (AAPL) ranks twentieth with a gain of 1,068%.
If you have a hard time remembering just how dour the outlook was back in early March 2009, you can read what the headlines were saying in this report that we publish for clients every month. At the time, there was hardly a bull to be found, but 3/9/09 turned out to be the greatest buying opportunity of a generation. Remember that headlines are by definition a lagging indicator — they don’t tell us what the future holds.
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