| April is a glorious month in many ways... Here in the Baltimore-Washington D.C. area, spring really comes alive in the fourth month of the year. The cherry blossoms peak and the dogwoods in my neighborhood bloom in various shades of white, pink, and red. Best of all, the tree swallows return to this area from Florida and the Caribbean - a sure-sign that spring has finally arrived. For investors, April also tends to be a wonderful month. From 1950 to 2024, April delivered the top cumulative return in the Dow Jones Industrial Average (138%), and the second-best return in the S&P 500 ( 110%). Most other months have brought returns that are well under 100% over those 74 years. The so-called "April effect" may seem like a random result - some month must be first, after all - yet recent research suggests there's a reason that stocks consistently perform so well during April. It's due to Tax Day - which of course typically falls on April 15, or occasionally a day or two later. Take a look at the data... | 
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