Stock Gains From 2008 To 2013
It took the Dow almost exactly four years to go from its bear market low to an all-time record high in early March 2013. The S&P was priced at 16 times operating earnings in March 2013 vs. its long-term P/E average of 18.8 and its 28.4 earnings ratio in 2000 (source: Howard Silverblatt of S&P Dow Jones Indices). Based on the March 2013 U.S. P/E ratio, Ireland, Italy, France, and the UK were trading at a 25% discount.
Gains
[Returns from Early 2009 to March 9, 2013]
|
U.S. REITs |
269% |
|
Oil |
95% |
|
Emerging Markets |
142% |
|
Gold |
72% |
|
U.S. Stocks |
146% |
|
T-Bonds |
25% |
|
Foreign Stocks |
112% |
|
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