Despite persistently high inflation, four interest-rate hikes from the Federal Reserve, wars in Ukraine and Israel, and multiple high-profile bank failures over the past year, the S&P 500 index (SNPINDEX: ^GSPC) has rallied an impressive 23% in 2023. Many growth stocks have fared even better than the broader market, soaring this year after being previously beaten down to fractions of their post-pandemic highs.

It's extraordinarily difficult to determine how far this rally will go. But one thing is certain: The market will eventually pull back. And when it does, you can be sure the world's best investors will have their watchlists ready in order to take advantage of the sell-off.

So, what's an investor to do?

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Source Fool.com