April was a brutal month for the stock market, with blue-chips suffering their worst month since March 2020, while the Nasdaq had its worst month since October 2008 when the ‘great recession’ was taking hold. Purely from an investment perspective, the drop has had the benefit of washing away significant portions of the over-valuation in stocks that existed at year-end. Indeed, the combination of continued earnings strength and a correcting market have helped ease concerns about stock-market valuations. At some point, bulls will wade back into the carnage in search of favourable entry points for stocks that investors loved when they were pricey and hate now that they are cheap.