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Returns

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Bull Markets in the Dow Jones Industrial

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Secular Bear Markets in U.S. Stocks (1800 to Present)

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U.S. Secular Bull Markets: S&P 500- 1900 to Present

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Historical S&P 500 Drawdowns

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Stocks can go down much more than Bonds!

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Range of Annual Returns, 1926-2013

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Since 1928..

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