The S&P 500's Horrible Returns In Everything Except The Dollar

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Here are the S&P500’s returns measured in almost everything except depreciating dollars, from September 1998 until present.

Note that over the same period, the index was up 3% nominally.

From The Big Picture:

  • Down 70% in gold
  • Down 31% in Aussie dollars
  • Down 28% in Canadian dollars
  • Down 40% in yen
  • Down 34% in euros since January 1999

US Treasuries, up more than the S&P500’s 3% due to compounding coupon payments, outperformed the S&P500 over the same period.

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