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S&P 500 annual price returns (1927-2016)

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Correlation of Changes in US Equities vs International Equities Measured Over Varying Horizons

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Corporate bond spreads remain tight

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The strength and duration of bull and bear markets have varied significantly

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European vs. US CAPE

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Magnitude of potential outperformance

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Are A & B different shades of gray?

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Real US stock and house prices since 1899

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Value's recent underperformance is an anomaly

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Value's recent underperformance is an anomaly

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