Ghost of Igloi wrote:
Clearly you are incorrect just using the the 1995-2009 period. Here is the intermediate period. Remember “in excess of Treasury Bills.”
https://www.hussmanfunds.com/wp-content/uploads/comment/mc190906m.png
1959-1982
1/1/1959: 55.62
12/31/1982: 140.78
1995-2009
1/1/1995: 465.25
12/31/2009: 1,127.64