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The Best Investment Writing Volume 5: Selected Writing from Prominent Investors and Authors

The Meb Faber Show - Better Investing

CHAPTER

Breaked Asset Classes in the Capital Markets

All seven of the broken asset classes in our survey posted poor performance over the three years prior to the warnings that they were impaired, before we declare them broken. The warning date we use represents the month in which a published article or live conversation strongly questioned the long term viability of the asset class. At the time of the august 19 79 warning about us. Stocks, their uninspired five % annualized three year return had slumped into the bottom quartile of returns. Since 19 26, approximately half of the group, commodities, highhill bonds and value stocks, generated negative s that fell within the worst decile of each asset's long term historical three year rolling return. These are disappointing

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