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Say What? In 30-Year Race, Bonds Beat Stocks


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What's really notable about that to me is that years 1-20 of that period were fantastic for stocks.


Yup.  The comparison is valid, but none of us are buying the market or broad base of bonds.  We buy individual securities.  Cheers!

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The last 30-year period ending September 30th, is the first such period where bonds have beaten stocks since the Civil War.  Cheers!




Not at all surprising given interest rate levels...I think my father financed his house at 12%+ back in 1982 now we are at 3.25%...


I liken it to looking at the S&P 500 from trough to peak. The bond market will not be able to sustain these levels going forward.

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just ask Russian

investors their return on capital after the Bolshevik

Revolution! As Ben Graham might caution, beware

the difference between the loss on capital (a drop

in price, from which we can recover) and a loss of

capital (100% loss, from which we cannot). Russia’s

stock market wasn’t alone in the 20th century as

three additional top 15 markets in 1900—Egypt,

Argentina, and China—suffered a 100% loss of

capital while Germany (twice) and Japan (once)

came very close.


So what bondholder in Russia did not get wiped out after the Bolchevic revolution?




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