1.Stocks go up in the long-run, you've seen the chart with the near-straight up to the right sloping line...
BUT: there are cycles and entry-point matters a lot. This chart shows how even longer-term returns (10yr annualized real total returns) can swing wildly from very good to pretty bad $.SPX(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$
2.Absolute Valuations help determine future absolute returns... AND Relative Valuations help determine future *relative* returns:
3.Best Stocks of all-time?
=those who stuck around long-enough
most companies were 70-90yrs+ old
>> big win for "time in the market"
(obviously some survivorship/selection stuff going on here, but interesting nonetheless)
From the paper "Which U.S. Stocks Generated the Highest Long-Term Returns?"
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