Almost no returns for the last three years (and for the next twelve)
Oct 19, 2020
The broadest index of stock prices worldwide is the Global Dow:
https://en.wikipedia.org/wiki/The_Global_Dow
That index hit 3100 in the fall of 2017. It currently stands at 3050. In other words, investors globally, on average, have seen no capital gains on stocks for over three years.
The other component of returns on equities is the dividend yield. It tends to track the level of interest rates. The latter have been near zero for some time. So the total return on stock investments (price plus dividend yield) has been very low, almost nothing.
And you get under 1% return if you buy a 10-year treasury bond or a bank CD.
And Hussman says you’ll get almost no return for, like, the next twelve years.
