Stocks Had Worst Month Since Aug. '99
NU Stock Analyst
It was not a merry month of May for investors in insurancestocks. It was quite the opposite, in fact. I found it necessary tocheck monthly prices back to August 1999 to find a month with morelosers.
Back in August 1999, Hurricane Floyd, one of the most powerfultropical storms of all time, came out of Africa and headed towardthe Florida coast. Investors panicked and dumped insurance stocks.Of the 141 stocks priced at the end of August 1999, there were 110declines and only 30 advances. The average decline was a startling6.93 percent. The ratio of winners to losers approachedone-to-four!
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