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.DODGE CHARGER 1971 Met. Brown 1 43 NEO 44750,.”
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Solido Citroën DS 19 1963 1 18 Toivonen Anssi Rally Monte Carlo 1963 (AK),.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.)
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As with the S&P 500 there is good and bad news.DINKY TOYS HINDLE SMART HELECS BRITISH RAILWAYS NEAR MINT ,. In its best year, 1933, this asset class was up a whopping 92.7%.
But the bad news is strikingly bad.STAR WARS BANDAI S.H. FIGUARTS OBI WAN KENOBI JAP JAPAN NEUF NEW,. 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.Battlestar Galactica Moebius Battleship Model Plastic Kit Sci-fi Glen Larson,.)
The allure of value investing doesn’t stop with large-cap stocks.1 43 True Scale Models TSM Mini Countryman Dakar Rally 2nd Place TSM144343,. And value works in foreign markets, too, as we shall see.
For more on this topic, check out my podcast, Spark 1 43 BMW CSL Winner Daytona 24 Hrs 1976 Brian Redman Peter Gregg,.
Richard Buck contributed to this article.