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Economy

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Annualized Value Premiums 2023

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Weighting in the MSCI All County World Index

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U.S. Long-Term Government Bond Yield, % (Federal Reserve 1870-2020)

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Narrow Leadership Performance

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Current discount to NAV is below historical average of 1.3% premium

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Stocks and Bonds Created Significantly More Wealth Than Cash Over Most Decades

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Emerging Markets Are The Mirror Image Of the U.S.

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Salary Needed To Buy A Home

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Federal Reserve, Upper Limit of Policy Rates Since 2000

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Nominal GDP Growth Since 2004

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