Ghost of Igloi wrote:
Hussman might answer this way:
“In the end, the total return of the U.S. stock market lagged both Treasury bills and CPI inflation for 13 years following the 1905 market peak, 16 years following the 1929 peak, 18 years following the 1965 peak (actually more 20 years if one measures from Feb 1962 to Aug 1982), and 13 years following the 2000 peak. These very long, interesting trips to nowhere comprise at least 60 years within just over a century of data, and can be identified by one defining feature: extreme starting valuations.”
What you are missing out on is those who stayed in the market after market dives and kept buying and buying made out like bandits. The Dow Jones tanked to about 7,500 in 2003 and 6,500 in 2009. Those who got out lost almost everything but those who stayed in the markets and were continuing buying made a king's ransom. 6,500 in 2009 to 35,000 12 years later. That is an amazing return that you missed out entirely on.