Every chart tells a story. Which story depends on what you choose to see. The asset class tables tell stories of best returns, worst returns, or a middle ground that avoids both. Maybe it’s the tale of mean reversion and infinite cycling of markets. Or randomness. Unpredictability. Irrationality.
I’ve explained it before here, here, and here. This time, I’ll hold off till the end because most people will see what they want to see and ignore the rest.
As usual, I’ll point out a few things I see in the tables, along with some other year-end data that was left out. Continue Reading…