Ignore the noise and buy the September dip in stocks, says a BlackRock investment chief who details 3 reasons why Wall Street is wrong about a full-blown market correction

• Stocks have shown weakness in September, but BlackRock’s Tony DeSpirito says to buy the dip.
• Earnings, fundamentals, and valuations are all better than bears believe, says the BlackRock CIO.
• Unsurprisingly, COVID-19 should be investors’ biggest concern – not what month it is.

One of Wall Street’s favorite pastimes – seasonal buying or selling – is also one of its least logical, but it still has serious implications for investors.

While some market-moving events, like elections or earnings reports, are associated with certain months, it makes little sense to build an investment thesis using data from decades ago.

But try telling that to traders. Skittish investors have looked for excuses to reduce exposure to equities ever since a remarkable market rally gained steam over the summer, pushing valuations sky high, and history books gave many the reason to sell that they were looking for this month.