The S&P 500 closed at 459 at the end of 1994. Buying at the end of 1994 and holding through the recent turmoil would yield a CAGR of 5%, 14 years later. Not too bad.
Consider however, buying anytime after 1994. Buying at the end of 1995 would have just kept your principal intact after adjusting for inflation. Buying in any subsequent year would have eroded your principal.
I believe that we are getting close to a very safe, very comfortable buying opportunity for long term investors.
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