S&p Mekko Chart From 1871 Real & Nominal Returns

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Column Labels 1877-92

1893-02

Month(s)

%Change

Bear Recovery Bull

1903-06

Month(s)

%Change

1907-11

Month(s)

%Change

1914-16

Month(s)

%Change

1920-29

Month(s)

%Change

1932-37

Month(s)

%Change

1942-46

Month(s)

%Change

1948-61

Month(s)

%Change

1962-68

Month(s)

%Change

1970-73

Month(s)

%Change

1974-87

Month(s)

%Change

1987-00

Month(s)

%Change

2000 ->

Month(s)

%Change

Month(s)

%Change

12

-28.53%

14

-22.93%

14

-26.18%

22

-34.75%

42

-20.44%

49

-47.10%

33

-76.80%

62

-48.31%

22

-35.38%

6

-21.76%

18

-31.67%

23

-50.06%

4

-26.68%

103

-51.76%

9

40.53%

24

30.29%

15

38.05%

17

55.75%

10

28.68%

44

97.10%

53

340.07%

36

94.40%

32

59.53%

11

28.80%

29

50.46%

121

103.01%

20

40.95%

5

49.40%

170

338.47%

85

112.81%

12

21.34%

26

21.17%

13

4.75%

61

317.26%

3

4.66%

12

31.60%

134

386.01%

67

55.00%

2

2.84%

31

93.96%

132

301.46%

0

0.00%

300% 200%

Assumes March 9  was the bottom of  this cycle!

Bull

100%

Recovery

103

4

23

18

6

22

62

33

49

42

22

14

14

12

Bear

1877‐92

1893‐02

1903‐ 06

1907‐11

1914‐16

1920‐29

1932‐37

Period (Months)

1942‐46

1948‐61

1962‐68

1970‐73

1974‐87

1987‐00

5 0

132

20

31

121

29 2

67

11

134

32

12

36

3

53

61

44

10 13

26

17

15 12

85

24

9

0% ‐100%

% Change S&P Comp

400%

5000%

Market Cycles ‐ Real Returns Monthly Data (after Inflation & Div) ‐ Prices Normalized to Year 2000‐$

170

Row Labels

2000 ‐>

Column Labels 1872 1882 1872-1882 Row Labels

1885 1902 1885-1902

Month(s)

%Change

Month(s)

1903 1906 1903-1906 %Change

Month(s)

1907 1909 1907-1909 %Change

1921 1929 1921-1929

Month(s)

%Change

1932 1956 1932-1956

Month(s)

%Change

Month(s)

1957 tto 61 %Change

1962 66 1962-66

Month(s)

%Change

1966 68 1966-68

Month(s)

%Change

1970 74 1970-74

Month(s)

%Change

1974 -1982 1982

Month(s)

%Change

1982 87 1982-87

Month(s)

%Change

1987 1990 1987-1990

Month(s)

%Change

Month(s)

1990 2000 1990-2000 %Change

Month(s)

2002 07 2002-07 %Change

2007 -

Month(s)

%Change

Month(s)

%Change

Bear

69.0

-38.61%

33

-31.09%

14.0

-29.04%

14.0

-37.69%

140.1

-37.38%

33.0

-84.76%

14.7

-21.63%

6.4

-27.97%

7.9

-22.18%

17.9

-36.06%

20.7

-48.20%

20.4

-27.11%

3.3

-33.54%

2.9

-19.92%

27.7

-42.29%

17.0

-56.70%

Recovery

31.0

62.89%

164

46.74%

16.0

44.11%

21.0

62.88%

41.1

64.03%

267.2

559.33%

11.1

27.60%

14.3

38.84%

6.9

28.50%

21.4

56.40%

69.5

93.06%

2.8

37.20%

19.8

50.46%

4.6

24.87%

58.4

73.27%

4.7

45.89%

Bull

24.0

20.46%

43

40.25%

18.0

10.83%

4.0

1.18%

56.0

195.84%

23.0

58.16%

38.6

46.04%

29.2

29.49%

18.9

15.21%

10.2

10.95%

4.4

16.87%

57.7

139.66%

11.6

9.56%

109.0

314.00%

4.4

2.29%

0.0

0.00%

200% %

B ll Bull

17.0

27.7

2.9

3.3

20.4

20.7

17.9

7.9

6.4

33.0

14.7

Bear

140.1

14.0

14.0

33.0

69.0

Recovery

1872‐1882

1885‐1902

1903‐ 1906

1907‐ 1909

1932‐1956

1921‐1929

Period (Months) Period (Months)

1957  to 61

1962‐ 66

1966‐68

1970‐ 74

1974 ‐1982

1982‐87

2002‐07 1987‐ 1990

1990‐2000 

4.7 0.0

4.4

58.4

109.0

4.6

19.8 11.6

57.7

2.8

4.4

69.5

21.4 10.2

6.9 18.9

29.2

14.3

38.6

11.1

23.0

267.2

56.0

41.1

21.0 4.0

16.0 18.0

43.0

164.0

24.0

31.0

0% % ‐200%

% Change S& &P Comp

400%

600%

Market Cycles ‐ Nominal Monthly Data 

2007 ‐

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