Bad News is Good News
The Compound and Friends
Is There Something Really Unusual Long-Term Going on Here?
Bogle: This down year, as rare as it is, is not going to make a difference in a long, long period. He says the reason the stock market goes up three quarters of the time is because of capitalism and American capitalism. Stocks don't just go up because they're risky; they go up because these are businesses and business fundamentals,. Dividends have increased at 7% of the year since 1988. Earnings have gone up 6% or 7%. So to Baus point, this is ruthless fundamentalism and it works.
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