The Halloween effect is about the popular saying ``sell in May and go away”, where it is believed that acquiring stocks (going long) on the last trading day in October), and selling those positions at the end of April produces superior returns when compared to a buy-and-hold strategy. Assume that Ann invested $1000 in the SP500 at the end of October 1999. Ann was an ``active’’ investor and followed the ``sell in May and go away” advice. At the end of each April she sold the stock and placed her money in a checking account until the end of October. The checking account pays 1% interest (for those 6 months). Then in the last trading day of October (right before market closing time) she reinvested back all her money into the SP 500. Bob invested $1000 in the SP500 at the end of October 1999. Bob was an ``passive’’ investor and let his money invested in the SP 500. How much money do Ann and Bob have at the end of October 2015? Based on these calculations, is there a Halloween effect in the SP 500 index?