Reprinted courtesy of MarketWatch.com.
To read the original articleMADE IN JAPAN CHgold Q STYLE PORSCHE PRO VINTAGE RACING CAR RARE,
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That means there’s less demand for value stocks. Less demand means lower prices. Lower prices can mean bargain prices.Schuco 1 18 BMW Isetta Export bluee grey 450041100,.”
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UNIVERSAL HOBBIES UH5261 TRATTORE CASE IH PUMA 175 CVX 1 32 MODELLINO DIE CAST,.2%, enough to turn a one-time investment of $100 into $1,104,778.
(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.)
Mercedes 207 208D Transporter, green 1 18 KK Scale,.8%. In the 22 losing years, the average loss was 15.5%.
As with the S&P 500 there is good and bad news.SUZUKI GSX-R 1000 K6 F. FORET SUPERBIKE 2006 Minichamps 122062215,. In its best year, 1933, this asset class was up a whopping 92.7%.
But the bad news is strikingly bad.FRICTION VINTAGE WIND UP TOY CAR GREEN PLASTIC MADE IN BULGARIA No. 15,. 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.Coffret 4 camions Ford Poissy et Studebaker - CIJ by Norev - Echelle 1 43,.)
The allure of value investing doesn’t stop with large-cap stocks.John Deere Trike and Wagon Set TBEK46088,. And value works in foreign markets, too, as we shall see.
For more on this topic, check out my podcast, ERTL 1969 GTO JUDGE-THE PRE-PRODUCTION VERSION 1 18 -PONTIAC -ISSUE,.
Richard Buck contributed to this article.