The Intelligent investor by Benjamin Graham | Episode 1 |
The Audiobooks Podcast
The Share Economy Over the Last Ten Decades
The annual rate of price advance between 1949 and 1970 works out at about 9 percent for the S&P composite. The decline from the 1968 high to the 1970 low was 36 percent for the standard and pause composite, and 37 percent for the Dow Jones industrial average. Only two of the nine decades after the first show a decrease in earnings and average prices. No decade after 1900 shows a decrease in average dividends. But the rates of growth in all three categories are quite variable.
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