Historical 15 Year Market Cycle

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Floyd Norris points out the cyclical nature of stock markets over 15-year periods:

“Compound annual total real return of the Standard & Poor’s 500-stock index peaked at more than 15 percent in 1999, and has since fallen to just 3 percent. That peak was similar to the earlier peak, reached in 1964. After that 1964 peak, the stock market lost momentum and then entered a bear market. By 1979, the market had failed to keep up with inflation over the previous 15 years.”


A Historical Cycle Bodes Ill for the Markets
NYT, January 6, 2012  

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