Investments
Raw Data: Annual HPRs, 1983-2012
Year Large Stock Long-Term TBonds
1983 28.07 2.84
1984 -2.86 -3.78
1985 12.49 21.95
1986 24.61 1.73
1987 6.97 7.50
1988 40.98 34.12
1989 45.10 30.56
1990 23.11 18.86
1991 22.61 5.24
1992 16.83 6.48
1993 -17.85 12.07
1994 18.89 18.58
1995 -5.24 4.65 Large Stock Long-Term TBonds Help with Excel’s AVERAGE Function
1996 25.94 20.22 Average Help with Excel’s STDEV Function
1997 6.08 -1.67 Standard deviation Help with Excel’s SKEW Function
1998 16.88 26.61 Skewness Help with Excel’s KURT Function
1999 13.10 3.68 Kurtosis
2000 13.37 6.78
2001 21.64 17.21
2002 32.70 -5.60 “Which do you think are the most relevant statistics to
use for projecting into the future?”
2003 -15.41 8.22
2004 -16.21 -0.34
2005 -16.81 22.91
2006 37.82 11.81
2007 17.19 12.67
2008 14.39 -0.03
2009 21.52 -3.00
2010 18.94 2.30
1011 -44.00 1.20
2012 30.29 4.00
Rates of Return 1929-2012 Wealth Index 1929-2011
World Portfolio US Markets World Portfolio US Markets World Portfolios US Markets
Year World Equity Return in US Dollars Small Stocks Large Stock Long-Term T-Bonds T-Bills Inflation Real T-bill Rates World Equity Return in US Dollars Small Stocks Large Stock Long-Term T-Bonds World Equity Return in US Dollars Small Stocks Large Stock Long-Term T-Bonds T-Bills Inflation real T-bill rate
1929 25.24 -8.91 12.21 4.54 3.19 -1.12 4.36 22.05 -12.10 9.02 1.35 1.25 0.91 1.12 1.05 1.03 0.99 1.04
1930 23.15 35.48 35.99 8.11 3.13 -2.26 5.51 20.02 32.35 32.86 4.98 1.54 1.23 1.53 1.13 1.06 0.97 1.10
1931 28.62 51.31 39.29 -0.93 3.54 -1.16 4.76 25.08 47.77 35.75 -4.47 1.98 1.87 2.13 1.12 1.10 0.96 1.15
1932 -12.56 -48.35 -7.66 4.41 4.74 0.59 4.13 -17.30 -53.09 -12.40 -0.33 1.73 0.96 1.96 1.17 1.15 0.96 1.20
1933 -22.6 -48.36 -25.90 6.22 2.43 -6.40 9.43 -25.03 -50.79 -28.33 3.79 1.34 0.50 1.45 1.24 1.18 0.90 1.31
1934 -39.94 -53.17 -45.56 -5.31 1.09 -9.32 11.48 -41.03 -54.26 -46.65 -6.40 0.81 0.23 0.79 1.18 1.20 0.82 1.47
1935 1.46 8.58 -9.14 11.89 0.95 -10.27 12.50 0.51 7.63 -10.09 10.94 0.82 0.25 0.72 1.32 1.21 0.73 1.65
1936 70.81 153.18 54.56 1.03 0.30 0.76 -0.46 70.51 152.88 54.26 0.73 1.40 0.64 1.11 1.33 1.21 0.74 1.64
1937 0.15 34.78 -2.32 10.15 0.18 1.52 -1.32 -0.03 34.60 -2.50 9.97 1.40 0.86 1.09 1.46 1.21 0.75 1.62
1938 22.44 72.87 45.67 4.98 0.14 2.99 -2.77 22.30 72.73 45.53 4.84 1.71 1.49 1.58 1.54 1.21 0.77 1.57
1939 18.84 77.01 33.55 6.52 0.18 1.45 -1.25 18.66 76.83 33.37 6.34 2.04 2.64 2.11 1.64 1.22 0.78 1.55
1940 -17.7 -55.05 -36.03 0.43 0.29 2.86 -2.50 -17.99 -55.34 -36.32 0.14 1.68 1.19 1.35 1.64 1.22 0.80 1.52
1941 6.21 15.46 29.42 5.25 -0.04 -2.78 2.82 6.25 15.50 29.46 5.29 1.78 1.37 1.75 1.73 1.22 0.78 1.56
1942 -5.6 -6.79 -1.06 5.90 0.01 0.00 0.01 -5.61 -6.80 -1.07 5.89 1.68 1.28 1.73 1.83 1.22 0.78 1.56
1943 7.97 -14.15 -9.65 6.54 -0.02 0.71 -0.72 7.99 -14.13 -9.63 6.56 1.81 1.10 1.56 1.95 1.22 0.79 1.55
1944 13.26 -13.42 -11.20 0.99 0.04 9.93 -9.00 13.22 -13.46 -11.24 0.95 2.05 0.95 1.39 1.97 1.22 0.87 1.41
1945 -0.56 39.66 20.80 5.39 0.28 9.03 -8.03 -0.84 39.38 20.52 5.11 2.04 1.33 1.68 2.08 1.22 0.94 1.30
1946 19.3 108.74 26.54 4.87 0.36 2.96 -2.53 18.94 108.38 26.18 4.51 2.44 2.77 2.12 2.18 1.23 0.97 1.26
1947 13.49 61.46 20.96 3.59 0.33 2.30 -1.93 13.16 61.13 20.63 3.26 2.77 4.48 2.57 2.26 1.23 0.99 1.24
1948 13.72 81.98 36.11 6.84 0.32 2.25 -1.89 13.40 81.66 35.79 6.52 3.15 8.14 3.49 2.41 1.24 1.02 1.21
1949 -16.91 -13.17 -9.26 0.15 0.36 18.13 -15.04 -17.27 -13.53 -9.62 -0.21 2.61 7.07 3.17 2.42 1.24 1.20 1.03
1950 -1.09 -1.91 4.88 -1.19 0.50 8.88 -7.70 -1.59 -2.41 4.38 -1.69 2.59 6.94 3.33 2.39 1.25 1.31 0.95
1951 3.06 -6.50 5.29 3.07 0.81 2.73 -1.87 2.25 -7.31 4.48 2.26 2.66 6.49 3.50 2.46 1.26 1.34 0.93
1952 17.35 21.20 18.24 6.03 1.12 -1.83 3.00 16.23 20.08 17.12 4.91 3.13 7.86 4.14 2.61 1.27 1.32 0.96
1953 24.44 46.88 32.68 -0.96 1.22 5.80 -4.33 23.22 45.66 31.46 -2.18 3.89 11.55 5.49 2.58 1.29 1.40 0.92
1954 28.69 6.68 23.47 -1.95 1.49 5.97 -4.23 27.20 5.19 21.98 -3.44 5.01 12.32 6.78 2.53 1.30 1.48 0.88
1955 14.21 5.12 18.91 1.93 1.65 0.91 0.73 12.56 3.47 17.26 0.28 5.72 12.95 8.07 2.58 1.33 1.49 0.89
1956 5.37 -5.60 -1.74 3.83 1.83 0.60 1.22 3.54 -7.43 -3.57 2.00 6.03 12.22 7.92 2.68 1.35 1.50 0.90
1957 48.2 63.70 52.55 4.88 0.86 -0.37 1.23 47.34 62.84 51.69 4.02 8.93 20.01 12.09 2.81 1.36 1.50 0.91
1958 22.94 24.62 31.44 -1.34 1.57 0.37 1.20 21.37 23.05 29.87 -2.91 10.98 24.93 15.89 2.77 1.38 1.50 0.92
1959 8.62 4.30 6.45 -5.12 2.47 2.83 -0.35 6.15 1.83 3.98 -7.59 11.93 26.01 16.92 2.63 1.42 1.54 0.92
1960 -6.86 -13.99 -11.14 9.46 3.15 3.04 0.11 -10.01 -17.14 -14.29 6.31 11.11 22.37 15.03 2.88 1.46 1.59 0.92
1961 36.78 65.52 43.78 -3.71 1.53 1.76 -0.23 35.25 63.99 42.25 -5.24 15.19 37.02 21.61 2.77 1.48 1.62 0.92
1962 24.96 21.84 12.95 -3.55 2.98 1.52 1.44 21.98 18.86 9.97 -6.53 18.99 45.11 24.41 2.68 1.53 1.64 0.93
1963 7.71 -4.72 0.19 13.78 2.67 1.36 1.29 5.04 -7.39 -2.48 11.11 20.45 42.98 24.46 3.04 1.57 1.67 0.94
1964 19.86 29.48 27.63 0.19 2.12 0.67 1.44 17.74 27.36 25.51 -1.93 24.51 55.65 31.21 3.05 1.60 1.68 0.96
1965 -7.2 -11.56 -8.79 6.81 2.73 1.23 1.48 -9.93 -14.29 -11.52 4.08 22.75 49.22 28.47 3.26 1.65 1.70 0.97
1966 14.35 18.51 22.63 -0.49 3.11 1.65 1.44 11.24 15.40 19.52 -3.60 26.01 58.33 34.91 3.24 1.70 1.73 0.98
1967 11.05 19.05 16.67 4.51 3.53 1.20 2.30 7.52 15.52 13.14 0.98 28.89 69.44 40.73 3.39 1.76 1.75 1.01
1968 10.49 39.27 12.50 -0.27 3.92 1.92 1.96 6.57 35.35 8.58 -4.19 31.92 96.71 45.82 3.38 1.83 1.78 1.03
1969 -6.47 -6.90 -10.25 3.70 4.75 3.36 1.34 -11.22 -11.65 -15.00 -1.05 29.85 90.03 41.13 3.50 1.91 1.84 1.04
1970 23.75 104.15 24.11 -7.41 4.21 3.28 0.90 19.54 99.94 19.90 -11.62 36.94 183.80 51.04 3.24 1.99 1.90 1.05
1971 19.92 50.43 11.00 -1.20 5.22 4.71 0.49 14.70 45.21 5.78 -6.42 44.30 276.50 56.66 3.21 2.10 1.99 1.05
1972 -6.21 -31.38 -8.33 -6.52 6.57 5.90 0.63 -12.78 -37.95 -14.90 -13.09 41.55 189.73 51.94 3.00 2.24 2.11 1.06
1973 -2.94 -17.95 4.10 12.69 6.52 5.57 0.90 -9.46 -24.47 -2.42 6.17 40.33 155.68 54.07 3.38 2.38 2.22 1.07
1974 19.22 17.96 14.17 17.47 4.39 3.27 1.08 14.83 13.57 9.78 13.08 48.08 183.64 61.73 3.97 2.49 2.30 1.08
1975 25.23 0.20 19.14 5.55 3.84 3.41 0.42 21.39 -3.64 15.30 1.71 60.21 184.00 73.54 4.19 2.58 2.37 1.09
1976 -15.81 -38.33 -14.75 1.40 6.93 8.94 -1.85 -22.74 -45.26 -21.68 -5.53 50.69 113.47 62.70 4.25 2.76 2.59 1.07
1977 -25.48 -27.40 -26.40 5.53 8.01 12.10 -3.65 -33.49 -35.41 -34.41 -2.48 37.77 82.38 46.15 4.48 2.98 2.90 1.03
1978 36.65 59.51 37.26 8.50 5.80 7.13 -1.24 30.85 53.71 31.46 2.70 51.62 131.41 63.34 4.86 3.16 3.11 1.02
1979 17.89 49.03 23.98 11.07 5.08 5.04 0.04 12.81 43.95 18.90 5.99 60.85 195.84 78.53 5.40 3.32 3.26 1.02
1980 4.95 27.63 -7.26 0.90 5.13 6.68 -1.45 -0.18 22.50 -12.39 -4.23 63.86 249.95 72.83 5.45 3.49 3.48 1.00
1981 21.28 24.96 6.50 -4.16 7.19 8.99 -1.65 14.09 17.77 -0.69 -11.35 77.45 312.33 77.56 5.22 3.74 3.79 0.98
1982 8.52 41.32 18.77 9.02 10.38 13.26 -2.54 -1.86 30.94 8.39 -1.36 84.05 441.39 92.12 5.69 4.12 4.30 0.96
1983 28.07 40.26 32.48 13.17 11.26 12.35 -0.97 16.81 29.00 21.22 1.91 107.65 619.09 122.04 6.44 4.59 4.83 0.95
1984 -2.86 -1.71 -4.98 3.61 14.72 8.91 5.33 -17.58 -16.43 -19.70 -11.11 104.57 608.51 115.96 6.67 5.26 5.26 1.00
1985 12.49 27.84 22.09 6.52 10.53 3.83 6.45 1.96 17.31 11.56 -4.01 117.63 777.92 141.58 7.11 5.82 5.46 1.07
1986 24.61 34.34 22.37 -0.53 8.80 3.79 4.83 15.81 25.54 13.57 -9.33 146.58 1045.05 173.25 7.07 6.33 5.67 1.12
1987 6.97 -10.49 6.46 15.29 9.84 4.04 5.57 -2.87 -20.33 -3.38 5.45 156.79 935.43 184.44 8.15 6.95 5.90 1.18
1988 40.98 29.22 32.00 32.68 7.72 3.79 3.79 33.26 21.50 24.28 24.96 221.05 1208.76 243.46 10.82 7.49 6.12 1.22
1989 45.1 3.59 18.40 23.96 6.16 1.19 4.91 38.94 -2.57 12.24 17.80 320.74 1252.15 288.25 13.41 7.95 6.19 1.28
1990 23.11 -14.30 5.34 -2.65 5.47 4.33 1.09 17.64 -19.77 -0.13 -8.12 394.86 1073.10 303.65 13.05 8.39 6.46 1.30
1991 22.61 18.61 16.86 8.40 6.36 4.41 1.87 16.25 12.25 10.50 2.04 484.14 1272.80 354.84 14.15 8.92 6.74 1.32
1992 16.83 9.01 31.34 19.49 8.38 4.64 3.57 8.45 0.63 22.96 11.11 565.62 1387.48 466.05 16.91 9.67 7.06 1.37
1993 -17.85 -27.24 -3.20 7.13 7.84 6.26 1.49 -25.69 -35.08 -11.04 -0.71 464.65 1009.53 451.14 18.11 10.42 7.50 1.39
1994 18.89 49.09 30.66 18.39 5.60 2.98 2.54 13.29 43.49 25.06 12.79 552.43 1505.11 589.46 21.44 11.01 7.72 1.43
1995 -5.24 21.11 7.71 7.79 3.50 2.97 0.51 -8.74 17.61 4.21 4.29 523.48 1822.83 634.90 23.11 11.39 7.95 1.43
1996 25.94 19.01 9.87 15.48 2.90 2.81 0.09 23.04 16.11 6.97 12.58 659.27 2169.35 697.57 26.69 11.72 8.18 1.43
1997 6.08 -5.59 1.29 -7.18 3.91 2.60 1.28 2.17 -9.50 -2.62 -11.09 699.35 2048.09 706.57 24.78 12.18 8.39 1.45
1998 16.88 34.01 37.71 31.67 5.60 2.53 2.99 11.28 28.41 32.11 26.07 817.40 2744.64 973.01 32.62 12.86 8.60 1.50
1999 13.1 16.54 23.07 -0.81 5.20 3.38 1.76 7.90 11.34 17.87 -6.01 924.48 3198.61 1197.49 32.36 13.53 8.89 1.52
2000 13.37 23.82 33.17 15.08 5.25 1.70 3.49 8.12 18.57 27.92 9.83 1048.09 3960.51 1594.69 37.24 14.24 9.04 1.58
2001 21.64 -7.36 28.58 13.52 4.85 1.61 3.19 16.79 -12.21 23.73 8.67 1274.89 3669.02 2050.45 42.27 14.93 9.19 1.63
2002 32.7 40.55 21.04 -8.74 4.69 2.68 1.96 28.01 35.86 16.35 -13.43 1691.79 5156.81 2481.87 38.58 15.64 9.43 1.66
2003 -15.41 -6.20 -9.10 21.48 5.88 3.44 2.36 -21.29 -12.08 -14.98 15.60 1431.08 4837.09 2256.02 46.86 16.55 9.76 1.70
2004 -16.21 29.25 -11.89 4.21 3.86 1.60 2.22 -20.07 25.39 -15.75 0.35 1199.10 6251.93 1987.78 48.84 17.19 9.92 1.73
2005 -16.81 -11.77 -22.10 16.79 1.63 2.48 -0.83 -18.44 -13.40 -23.73 15.16 997.53 5516.08 1548.48 57.04 17.47 10.16 1.72
2006 37.82 74.75 28.69 2.48 1.02 2.04 -1.00 36.80 73.73 27.67 1.46 1374.80 9639.35 1992.74 58.45 17.65 10.37 1.70
2007 17.19 14.36 10.88 7.78 1.19 3.34 -2.08 16.00 13.17 9.69 6.59 1611.13 11023.56 2209.55 63.00 17.86 10.71 1.67
2008 14.39 3.26 4.91 6.42 2.98 3.34 -0.35 11.41 0.28 1.93 3.44 1842.97 11382.93 2318.04 67.05 18.39 11.07 1.66
2009 21.52 17.69 11.78 1.85 4.81 2.52 2.23 16.71 12.88 6.97 -2.96 2239.66 13396.57 2591.10 68.29 19.28 11.35 1.70
2010 18.94 -8.26 3.53 9.81 4.67 4.10 0.55 14.27 -12.93 -1.14 5.14 2663.85 12290.01 2682.57 74.99 20.18 11.82 1.71
2011 -44 -39.83 -36.80 24.03 1.64 -0.04 1.68 -45.64 -41.47 -38.44 22.39 1491.76 7394.90 1695.38 93.01 20.51 11.81 1.74
2012 30.29 36.35 26.84 -12.92 0.05 2.78 -2.66 30.24 36.30 26.79 -12.97 1943.61 10082.95 2150.42 80.99 20.52 12.14 1.69
