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United States, post-tax corporate profits (% of GDP) since 1947

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Arithmetic average annual real return of S&P 500 over different periods

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Stocks have started to recover before recessions end since 1973

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Managing money and investments does not prepare clients for the certainty of uncertainty

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Four investment paths through good and bad years since 1926

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US long bond since 1978

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Daily S&P 500 index since 1928, alongside recessions and bottoms

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US bear markets & recoveries since the 1800's

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Good years have outnumbered bad years since 1926

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Average retail investor portfolio (drawdown %)

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