Do the lessons of history suggest that there could be better years to come for the U.S. stock market?
In fact, in the 20th century there were only two periods in which rolling 10-year annual total returns fell below today’s 3.06% level: one that began with the Great Depression and one in the decade that ended with the recession of the mid-1970s.
The major market downturns that bottomed in these lost decades of the 20th century are highlighted in the chart below. It also shows that long-term investors who remained invested in the market were rewarded with better rolling 10-Year annual total returns in the years that followed.
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