No, I'm not calling a bottom, but if one considers this the second major down leg of a secular bear market that started in 2000,
Well, the single best calendar year on record for U.S. stocks was 1933, so...Nice chart there! It would be interesting to see the same thing done for bull markets that started at the end of those periods.
Yes, a very good year. Here is a link to a brighter-side-of-the-Depression story:Well, the single best calendar year on record for U.S. stocks was 1933, so...
Furthermore, over the five years beginning at the end of 1930, the stock market, on an inflation-adjusted total-return basis, produced a 7% annualized return -- notwithstanding the 60% drop in the first five months of that five-year period.
In other words, even if you had been so unlucky as to buy stocks right before a six-month decline of 60%, you would have been whole again within just two years and would have earned a 7% real return over the next five years.
Only steeper...