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Tumultuous 2020 rewards investors who stared down Covid-induced turmoil

The S&P 500 ended on an up beat, with a 1.4 per cent gain in the holiday-shortened week. This pushed its CY20 gain to 16 per cent, an ending that would have seemed far-fetched in March.

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The upshot: Most major asset classes have now posted a tidy profit thanks to the easiest financial conditions on record

Gregor Stuart Hunter | Bloomberg
The bell has just tolled on one of the wildest years in Wall Street history, full of precipitous plunges, improbable rebounds and human tragedy.

The S&P 500 ended on an up beat, with a 1.4 per cent gain in the holiday-shortened week. This pushed its CY20 gain to 16 per cent, an ending that would have seemed far-fetched in March.

Investors needed nerves of steel to stay the course, and those who did were duly rewarded. Stocks jumped to all-time highs. Corporate bond yields hit record lows. Speculative mania sprang up everywhere from Bitcoin to IPOs.

Anyone who invested $10,000 at the start