Let's go long term today....10 year returns, annualized, including dividends.
in 2011 the market was pile of garbage...had gone nowhere since 1998 or so. A few headfakes to new highs, but in a decade-long channel.
Then things got interesting.
BTC +116%/year
TSLA +61
AMZN +33
MSFT +27
GME +23
Tech +22
Cons Discr +19
Health Care +16
Retail +15
SP500 +15
USA +15
Industrials +13
Small Caps +13
Financials +13
Value +12
Cons Staples +11
REITS +10
Materials +10
Utils +10
Global 60/40 +8
Corp bonds +6
High Yield +5
Non-US Developed +6
Emerging +4
Treasuries +4
TIPS +3
Gold +1
Energy 0
Hussman -5
It's been a tech rally, no doubt. But even value went up 12%/year, which is more than I would have guessed.
Weird that high quality corp bonds outdid junk
Consumer discretionary stands out
60/40 returning 8% is pretty good considering relatively low risk
Emerging has been a heckhole of miserable returns, and non-US developed not much better
So the question is...does the pendulum swing and non-US stocks start outperforming the US?
Portfolio theory might suggest that yes, that will happen.
But maybe this is different, given COVID, the strength of tech and the soon to start shrinking population in europe and china. US too, of course.
In any case, I suspect this has been one of the best 10-year stretches in investing history. 15% per year is really good.