Just got paid, it’s Friday night? If you’re thinking of throwing some of that cash into the stock market, maybe you should hold off until Tuesday. Historically, Monday is by far the worst day of the week for stocks. Maybe it’s because people are reacting to bad news dumped over the weekend or maybe it has something to do with this mathematical formula, but the market’s aversion to Mondays is uncanny (this past Monday was no exception).
How much do we hate Mondays? If you had invested $100 when the Dow opened in 1928, cashing out every Friday and reinvesting every Monday, you’d have $1,884.33 today. But if you had skipped Mondays, buying only on Tuesdays and selling on Fridays, you’d have $47,067.34 today. Here are the totals when each of the days of the week are excluded: