The latest findings highlight the performance of the U.S. stock and bond markets within a historical and global context. Examining data beyond the typical 1926–2025 framework, the analysis includes financial performances before 1925 and compares U.S. markets with global counterparts over the past 125 years. It spans various regions, including London, Japan, and China, while also addressing earlier international markets and the complexities of constructing long-term financial indices.
The study underscores that the U.S. market’s success is notable, yet not representative of all potential long-term outcomes in financial history. By integrating a wider array of information covering diverse countries, centuries, and varying market conditions, it aims to illuminate concepts such as survivorship bias and market disruption. These insights caution against overly relying on recent U.S. historical trends to make future predictions.
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