Reprinted courtesy of MarketWatch.com.
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That means there’s less demand for value stocks. Less demand means lower prices. Lower prices can mean bargain prices.Vintage RESI CAST Le Tourneau 35.142 Dozer Blade Crawler Tractor KIT NIB Complet,.”
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(The S&P 500, by comparison, returned 9.8%; $100 would have grown to $346,261. There’s a striking lesson in the huge difference an extra 1.2 percentage points of return can make if given enough time.)
1 16 1968 Renault 56 Universal Hobbies UH2678,.8%. In the 22 losing years, the average loss was 15.5%.
As with the S&P 500 there is good and bad news.ESERCITO USA ausbildungsmodell - FORT KNOX - T 72 Carro armato Modello - DDR NVA,. In its best year, 1933, this asset class was up a whopping 92.7%.
But the bad news is strikingly bad.K & R REPLICAS 1 43 MG MIDGET 1500 1974 - IN ORIGINAL BOX - GOOD CONDITION,. That was more than 80 years ago, but it shows what can happen.
This asset class is more volatile than the S&P 500. In 1931 the S&P lost “only” 43.3%; in 1933, that index was up “only” 54%.
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The best 15-year period ended in 1989 with a compounded return of 21.7%. The worst, from 1928 through 1942, ended up with a compound loss of 1.4%.
(The average return of all 15-year periods was 13.2%, compared with 10.7% for the S&P 500.)
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This underscores one of my complaints about Vanguard’s Total Stock Market Index Fund US:VTSMX , which has only about 36% of is portfolio in value stocks.1 18 VW VOLKSWAGEN PASSAT Lingyu 2008 car model Diecast,.)
The allure of value investing doesn’t stop with large-cap stocks.BMW 2002 Turbo 1973-1974 Cream 1 43 Minichamps Nr. 430022200,. And value works in foreign markets, too, as we shall see.
For more on this topic, check out my podcast, McLaren F1 GTR ,Winner 24H LeMans 1995 , Truescale Models,.
Richard Buck contributed to this article.