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.1937 PEUGEOT 402 ECLIPSE DARK GREEN 1 18 DIECAST CAR MODEL BY NOREV 184871,.”
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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.CORGI TOYS GIFT SET GIFTSET 37 GS37 FIAT X1 9 CARLSBERG POWER BOAT VN MINT BOXED,. In its best year, 1933, this asset class was up a whopping 92.7%.
But the bad news is strikingly bad.LEGO 60079 Training Jet Transporter,. 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.LEGO Set 8087 Star Wars Tie Defender 100% Complete MINT,.)
The allure of value investing doesn’t stop with large-cap stocks.G.I. JOE The Rise of Cobra 4 Firefly with Cobra Gunship New Factory Sealed 2009,. And value works in foreign markets, too, as we shall see.
For more on this topic, check out my podcast, BMW Z4 GT3, 24H Spa 2013 , Sparkmodels,.
Richard Buck contributed to this article.