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The best year for value index outperformance since the popping of the tech bubble

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Dow Jones industrial average since 1780

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2013-2022 return quilt

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Bloomberg US aggregate annual total return vs. intra-year max drawdown since 1976

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MSCI indices relative price performance in local currency

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Total nominal return in US stocks & bonds, for each year since 1871

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Total nominal return in US stocks & bonds, for each year since 1871

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2022 return vs. previous worst-performing 12-mo period since 1842

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Annual total returns: S&P 500 vs. 10-yr US treasury bonds since 1878

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Housing is slowing down quickly

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