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.VINTAGE PRESSED STEEL 'TONKA TURBO DIESEL',.”
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Fiat 238 Ambulanza Croce green Lugano 1 43 Model RIO,.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.)
Wonderful PORSCHE RS SPYDER 2007 DHL No.6,.8%. In the 22 losing years, the average loss was 15.5%.
As with the S&P 500 there is good and bad news.VINTAGE GERMAN PLASTIC 2x VW VOLKSWAGEN BEETLE - BUG - blueE + YELLOW GOOD IN BAG,. In its best year, 1933, this asset class was up a whopping 92.7%.
But the bad news is strikingly bad.Corgi Toys Ferrari Berlinetta 250 Le Mans (314) With Box,. 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.NOREV PEUGEOT 404 COUPE N° 71,.)
The allure of value investing doesn’t stop with large-cap stocks.VOLKSWAGEN 1303 BEETLE 1973 RED NOREV 1 18,. And value works in foreign markets, too, as we shall see.
For more on this topic, check out my podcast, BMW 320SI WTCC Test Car - 1 18 - Guiloy,.
Richard Buck contributed to this article.