PT  - JOURNAL ARTICLE
ED  - McQuarrie, Edward F
TI  - The Stock Market’s Little Shop of Horrors: <em>And You Thought the Aftermath of 1929 Was Grim</em>
AID  - 10.3905/JOI.2009.18.2.006
DP  - 2009 May 31
TA  - The Journal of Investing
PG  - 6--12
VI  - 18
IP  - 2
4099  - https://pm-research.com/content/18/2/6.short
4100  - https://pm-research.com/content/18/2/6.full
AB  - Do stocks always beat bonds? Do stocks necessarily beat inflation by 6%–7% over long periods? Data from select foreign markets and pre-1926 U.S. markets call these shibboleths into question. Better to regard stocks as always a risky investment, independent of holding period, and regardless of immediate prior returns. Thus, buying after stocks have declined by 40% is no panacea. And, severe declines in excess of 40% are more common than with conventional asset allocation models, as the halcyon decades following the Depression might suggest.TOPICS: Portfolio management/multi-asset allocation, performance measurement, volatility measures