| Annual Returns on Investments in | Compounded Value of $ 100 | |||||
| Year | Stocks | T.Bills | T.Bonds | Stocks | T.Bills | T.Bonds |
| 1928 | 43.81% | 3.16% | 0.84% | $ 143.81 | $ 103.16 | $ 100.84 |
| 1929 | -8.30% | 4.55% | 4.20% | $ 131.88 | $ 107.85 | $ 105.07 |
| 1930 | -25.12% | 2.31% | 4.54% | $ 98.75 | $ 110.35 | $ 109.85 |
| 1931 | -43.84% | 1.07% | -2.56% | $ 55.46 | $ 111.53 | $ 107.03 |
| 1932 | -8.64% | 0.96% | 8.79% | $ 50.66 | $ 112.60 | $ 116.44 |
| 1933 | 49.98% | 0.30% | 1.86% | $ 75.99 | $ 112.93 | $ 118.60 |
| 1934 | -1.19% | 0.23% | 7.96% | $ 75.09 | $ 113.19 | $ 128.05 |
| 1935 | 46.74% | 0.15% | 4.47% | $ 110.18 | $ 113.36 | $ 133.78 |
| 1936 | 31.94% | 0.12% | 5.02% | $ 145.38 | $ 113.50 | $ 140.49 |
| 1937 | -35.34% | 0.11% | 1.38% | $ 94.00 | $ 113.62 | $ 142.43 |
| 1938 | 29.28% | 0.03% | 4.21% | $ 121.53 | $ 113.66 | $ 148.43 |
| 1939 | -1.10% | 0.04% | 4.41% | $ 120.20 | $ 113.70 | $ 154.98 |
| 1940 | -10.67% | 0.02% | 5.40% | $ 107.37 | $ 113.73 | $ 163.35 |
| 1941 | -12.77% | 0.33% | -2.02% | $ 93.66 | $ 114.10 | $ 160.04 |
| 1942 | 19.17% | 0.38% | 2.29% | $ 111.61 | $ 114.54 | $ 163.72 |
| 1943 | 25.06% | 0.38% | 2.49% | $ 139.59 | $ 114.97 | $ 167.79 |
| 1944 | 19.03% | 0.38% | 2.58% | $ 166.15 | $ 115.41 | $ 172.12 |
| 1945 | 35.82% | 0.38% | 3.80% | $ 225.67 | $ 115.85 | $ 178.67 |
| 1946 | -8.43% | 0.38% | 3.13% | $ 206.65 | $ 116.29 | $ 184.26 |
| 1947 | 5.20% | 0.95% | 0.92% | $ 217.39 | $ 117.39 | $ 185.95 |
| 1948 | 5.70% | 1.16% | 1.95% | $ 229.79 | $ 118.75 | $ 189.58 |
| 1949 | 18.30% | 1.10% | 4.66% | $ 271.85 | $ 120.06 | $ 198.42 |
| 1950 | 30.81% | 1.34% | 0.43% | $ 355.60 | $ 121.67 | $ 199.27 |
| 1951 | 23.68% | 1.73% | -0.30% | $ 439.80 | $ 123.77 | $ 198.68 |
| 1952 | 18.15% | 2.09% | 2.27% | $ 519.62 | $ 126.36 | $ 203.19 |
| 1953 | -1.21% | 1.60% | 4.14% | $ 513.35 | $ 128.38 | $ 211.61 |
| 1954 | 52.56% | 1.15% | 3.29% | $ 783.18 | $ 129.86 | $ 218.57 |
| 1955 | 32.60% | 2.54% | -1.34% | $ 1,038.47 | $ 133.16 | $ 215.65 |
| 1956 | 7.44% | 3.21% | -2.26% | $ 1,115.73 | $ 137.43 | $ 210.79 |
| 1957 | -10.46% | 3.04% | 6.80% | $ 999.05 | $ 141.61 | $ 225.11 |
| 1958 | 43.72% | 2.77% | -2.10% | $ 1,435.84 | $ 145.53 | $ 220.39 |
| 1959 | 12.06% | 4.49% | -2.65% | $ 1,608.95 | $ 152.07 | $ 214.56 |
| 1960 | 0.34% | 2.25% | 11.64% | $ 1,614.37 | $ 155.49 | $ 239.53 |
| 1961 | 26.64% | 2.60% | 2.06% | $ 2,044.40 | $ 159.53 | $ 244.46 |
| 1962 | -8.81% | 2.87% | 5.69% | $ 1,864.26 | $ 164.11 | $ 258.38 |
| 1963 | 22.61% | 3.52% | 1.68% | $ 2,285.80 | $ 169.89 | $ 262.74 |
| 1964 | 16.42% | 3.84% | 3.73% | $ 2,661.02 | $ 176.41 | $ 272.53 |
| 1965 | 12.40% | 4.38% | 0.72% | $ 2,990.97 | $ 184.14 | $ 274.49 |
| 1966 | -9.97% | 4.96% | 2.91% | $ 2,692.74 | $ 193.27 | $ 282.47 |
| 1967 | 23.80% | 4.97% | -1.58% | $ 3,333.69 | $ 202.87 | $ 278.01 |
| 1968 | 10.81% | 5.96% | 3.27% | $ 3,694.23 | $ 214.97 | $ 287.11 |
| 1969 | -8.24% | 7.82% | -5.01% | $ 3,389.77 | $ 231.78 | $ 272.71 |
| 1970 | 3.56% | 4.87% | 16.75% | $ 3,510.49 | $ 243.06 | $ 318.41 |
| 1971 | 14.22% | 4.01% | 9.79% | $ 4,009.72 | $ 252.81 | $ 349.57 |
| 1972 | 18.76% | 5.07% | 2.82% | $ 4,761.76 | $ 265.63 | $ 359.42 |
| 1973 | -14.31% | 7.45% | 3.66% | $ 4,080.44 | $ 285.42 | $ 372.57 |
| 1974 | -25.90% | 7.15% | 1.99% | $ 3,023.54 | $ 305.82 | $ 379.98 |
| 1975 | 37.00% | 5.44% | 3.61% | $ 4,142.10 | $ 322.46 | $ 393.68 |
| 1976 | 23.83% | 4.35% | 15.98% | $ 5,129.20 | $ 336.49 | $ 456.61 |
| 1977 | -6.98% | 6.07% | 1.29% | $ 4,771.20 | $ 356.91 | $ 462.50 |
| 1978 | 6.51% | 9.08% | -0.78% | $ 5,081.77 | $ 389.32 | $ 458.90 |
| 1979 | 18.52% | 12.04% | 0.67% | $ 6,022.89 | $ 436.19 | $ 461.98 |
| 1980 | 31.74% | 15.49% | -2.99% | $ 7,934.26 | $ 503.76 | $ 448.17 |
| 1981 | -4.70% | 10.85% | 8.20% | $ 7,561.16 | $ 558.42 | $ 484.91 |
| 1982 | 20.42% | 7.94% | 32.81% | $ 9,105.08 | $ 602.76 | $ 644.04 |
| 1983 | 22.34% | 9.00% | 3.20% | $ 11,138.90 | $ 657.01 | $ 664.65 |
| 1984 | 6.15% | 8.06% | 13.73% | $ 11,823.51 | $ 709.96 | $ 755.92 |
| 1985 | 31.24% | 7.10% | 25.71% | $ 15,516.60 | $ 760.37 | $ 950.29 |
| 1986 | 18.49% | 5.53% | 24.28% | $ 18,386.33 | $ 802.42 | $ 1,181.06 |
| 1987 | 5.81% | 5.77% | -4.96% | $ 19,455.08 | $ 848.71 | $ 1,122.47 |
| 1988 | 16.54% | 8.07% | 8.22% | $ 22,672.40 | $ 917.21 | $ 1,214.78 |
| 1989 | 31.48% | 7.63% | 17.69% | $ 29,808.58 | $ 987.19 | $ 1,429.72 |
| 1990 | -3.06% | 6.74% | 6.24% | $ 28,895.11 | $ 1,053.73 | $ 1,518.87 |
| 1991 | 30.23% | 4.07% | 15.00% | $ 37,631.51 | $ 1,096.61 | $ 1,746.77 |
| 1992 | 7.49% | 3.22% | 9.36% | $ 40,451.51 | $ 1,131.92 | $ 1,910.30 |
| 1993 | 9.97% | 3.06% | 14.21% | $ 44,483.33 | $ 1,166.56 | $ 2,181.77 |
| 1994 | 1.33% | 5.60% | -8.04% | $ 45,073.14 | $ 1,231.89 | $ 2,006.43 |
| 1995 | 37.20% | 5.14% | 23.48% | $ 61,838.19 | $ 1,295.21 | $ 2,477.55 |
| 1996 | 23.82% | 4.91% | 1.43% | $ 76,566.48 | $ 1,358.80 | $ 2,512.94 |
| 1997 | 31.86% | 5.16% | 9.94% | $ 100,958.71 | $ 1,428.91 | $ 2,762.71 |
| 1998 | 28.34% | 4.39% | 14.92% | $ 129,568.35 | $ 1,491.64 | $ 3,174.95 |
| 1999 | 20.89% | 5.37% | -8.25% | $ 156,629.15 | $ 1,571.75 | $ 2,912.88 |
| 2000 | -9.03% | 5.73% | 16.66% | $ 142,482.69 | $ 1,661.81 | $ 3,398.03 |
| Risk Premium | ||||||
| Arithmetic Average | Stocks - T.Bills | Stocks - T.Bon | ||||
| 1928-2000 | 12.38% | 3.97% | 5.21% | 8.41% | 7.17% | |
| 1962-2000 | 12.63% | 6.22% | 7.39% | 6.41% | 5.25% | |
| 1990-2000 | 16.27% | 4.85% | 8.63% | 11.42% | 7.64% | |
| Risk Premium | ||||||
| Geometric Average | Stocks - T.Bills | Stocks - T.Bon | ||||
| 1928-2000 | 10.46% | 3.93% | 4.95% | 6.53% | 5.51% | |
| 1962-2000 | 11.50% | 6.19% | 6.98% | 5.30% | 4.52% | |
| 1990-2000 | 15.28% | 4.85% | 8.19% | 10.43% | 7.09% | |