Economy

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Real S&P composite: 1871-present

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US treasury index drawdowns, % from peak since 1973

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PPP fair value and spot exchange rates for selected currencies since 1992

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LTCMA forecasts, 2023 vs. 2022, USD terms

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Year-to-date total return for the Bloomberg US aggregate index

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Starting 3-year treasury yield and annual change in Fed funds rate since 1972

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Previous value cycles show the potential for prolonged outperformance

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Dow Jones: 18 years flat between 1964 and 1982

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The historic crypto bubble: Bitcoin is now the 5th biggest wipeout of all time

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