Welcome to Crash Course, a podcast about business, political, and social disruption and what we can learn from it.

I'm Tim O'Brien. Every week on Crash Course, I'm going to bring listeners directly into the arenas where epic upheavals occur and

I'm going to explore the lessons we can learn when creativity and ambition collide

with competition and power.

Listen to Crash Course every Tuesday on the IHeartRadio app, Apple Podcasts,

or wherever you get your podcasts.

Seasonality is the phenomena where during certain times of the year, markets behave almost predictably.

It's rooted in the idea that investors and businesses and economic cycles have regular patterns.

These patterns aren't quite as regular as the phases of the moon.

They don't always work, but combined with other factors, they can take on a life of their own.

I'm Barry Riddell-T.

I'm Barry Riddaltz and on today's edition of At the Money, we're going to discuss what you need to know about market seasonality.

To help us unpack all of this and what it means for your portfolio,

let's bring in Jeff Hirsch,

editor-in-chief of the Stock Trader's Almanac

who's been studying seasonality just about his whole life. Jeff welcome.

Hey Barry, great to be with you. So let's talk a little bit about this. I mentioned certain things happen every year.

People raise money to pay taxes.

They pay taxes certain times of year.

They make regular contributions.

What does the data you study say about seasonality?

It says that people are creatures of habit, and it's a behavioral finance at its core

...