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Bloomberg US aggregate annual total return vs. intra-year max drawdown since 1976

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MSCI indices relative price performance in local currency

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Total nominal return in US stocks & bonds, for each year since 1871

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Total nominal return in US stocks & bonds, for each year since 1871

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2022 return vs. previous worst-performing 12-mo period since 1842

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Annual total returns: S&P 500 vs. 10-yr US treasury bonds since 1878

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Housing is slowing down quickly

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Annual percent change in the US population since 1901 and percent of 65 and over since 1950

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Outsized inflation required outsized hikes

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2022 Q4 percent returns vs. 2022 annual percent returns

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