Stocks for the Long Run?
“Stocks for the Long Run” is the mantra of many investors today. The U.S. stock market’s stellar performance, especially post 2008, and its rarity of long-term losses have become something of a gospel. Renowned experts like Eugene Fama and Ken French support this belief, estimating high probability of substantial gains over extended horizons. Indeed, the U.S. stock market was the strongest performing market in the 20th century. As Stocks for the Long Run author Jeremy Siegel noted: “… U.S. stocks have been the best long-term