Reprinted courtesy of MarketWatch.com.
To read the original article1993 Matchbox Construction SuperKing CS-10 Digger Transporter,
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That means there’s less demand for value stocks. Less demand means lower prices. Lower prices can mean bargain prices.MINIATUR 1 43 IN SCHACHTEL REVELL RENAULT 5 TURBO METALL SET ANGEBOT,.”
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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.)
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As with the S&P 500 there is good and bad news.M2 R01 Vw Volkswagen 4 car set with Chase,. In its best year, 1933, this asset class was up a whopping 92.7%.
But the bad news is strikingly bad.Brooklin 1 43 Scale BRK31 008 - 1953 Pontiac Delivery Van Mobiloil,. 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.Siku 2101 03900 Hilfeleistungslöschfahrzeug HLF MAN TGA 18.460 M FW Pompiers,.)
The allure of value investing doesn’t stop with large-cap stocks.MARK43 PM43114BL 1 43 Subaru Les Vogue STI sport EyeSight D type WR bluee Pearl,. And value works in foreign markets, too, as we shall see.
For more on this topic, check out my podcast, 1965 Lambandi Mark II - 1 24 by Franklin Mint - LE Signed & Numbered - (085),.
Richard Buck contributed to this article.