FYI: A couple weeks ago I covered a little discussed topic involving the the use of historical market data. Namely that you have to take market returns that go back to the turn of the 20th century with a grain of salt because of the fact that costs were much higher in those days so no one was really receiving those gross returns on a net basis.
The natural follow-up question to this line of thinking would be — so what does stock market data going back to the 1800s really tell us?
Regards,
Ted
http://awealthofcommonsense.com/2016/04/180-years-of-market-drawdowns/
