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.YAMATO STAR BLAZERS 2202 1 1000 Astro Fleet Garmillas Buques de guerra Set,.”
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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.Laylax Nine Ball Outer Barrel SAS Neo Muzzle Predector for Marui HK45 146816,. In its best year, 1933, this asset class was up a whopping 92.7%.
But the bad news is strikingly bad.Alfa Romeo 8C 2300 Monza, 1 18, Burago 3514, OVP,. 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.Vintage SAUROD Action Figure COMPLETE He-Man MOTU 1987 RARE Wave 6 WORKS ,.)
The allure of value investing doesn’t stop with large-cap stocks.Marvel Fan Girl 13.5 inch Action Figure Spider Gwen,. And value works in foreign markets, too, as we shall see.
For more on this topic, check out my podcast, Figure Set Star-Woz Last Of The Jedi,.
Richard Buck contributed to this article.