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Bonds Have Outperformed in Low ERP Periods

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Value Has Flourished In Low ERP Periods

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Historical 30-Month Rolling Volatility And Drawdowns Since 1976

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US Commodity Price Index, 10-year rolling CAGR, 1815-2021

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Absolute Forward Price/Earnings

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Hedge Fund 5-Year Returns

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Risk vs. Return 2000-2023

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How Bonds Have Performed During the Worst Years Ever for Stocks: 1926-2023

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Small and Mid Cap Stocks Trading at a Historic Discount to Large Cap Stocks Since 2003

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Performance dispersion between real estate regions and other asset classes

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