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Commodity Cycles Have Been Shortening Since 1803

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Outside the US, Equity Valuations Are Now in Line with Post 2002 Averages Since 1998

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Rolling 36-Month Sharpe Ratio, S&P 500 Since 1980

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DAXK Weekly Since 1999

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CAC 40, Daily Since 1999

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Nikkey 225, Weekly, Since 1986

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Shanghai Composite Index Since 2006

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Hypothetical Growth of One US Dollar Invested in Each of Asset Classes Shown Since 1926

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Missing the Best Days in the Market Since 1989

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Other Developed Market Equities Have Lagged US Equities Since 2007

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