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.Mazda Mx5 Miata red 1 24 Echelle Motor Max 73262r,.”
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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.LEGO CITY ADVENT CALENDAR 7553 NEW IN FACTORY SEALED BOX 232 PIECE NISB NIB 2011,. In its best year, 1933, this asset class was up a whopping 92.7%.
But the bad news is strikingly bad.1999 ERTL American Muscle 1949 Mercury Coupe Collector Edition 1 18 Die-Cast,. 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 Renwal Auto Fleet No. 360 - Plastic Cars - New in Box (143-147),.)
The allure of value investing doesn’t stop with large-cap stocks.Lego 6265 SABRE ISLAND Set w Mini Figures 1990,. And value works in foreign markets, too, as we shall see.
For more on this topic, check out my podcast, Universal Hobbies 1940 Ford Deluxe Coupe 1 18 Scale Die Cast Eagle's Race Car,.
Richard Buck contributed to this article.