CHAPTER 1WHY A SECOND LOST DECADE LIES AHEAD

The year 1553 saw Lady Jane Grey deposed from the throne of England after only nine days in the palace. This event has absolutely nothing to do with the subject of surviving the second lost decade, except for one thing. The number 1,553 marks the secular bull market peak in the S&P 500 composite on March 24, 2000. Prior to that date U.S. equities experienced an 18-year secular or very long-term bull market. Since then stock prices have been in a bear market, often labeled as the “lost decade” for investors. Nothing unusual happened on that early spring day in 2000, no one rang a bell to herald the passing of the bull, and no one realized that a new, more challenging investment era had begun. No broker ...

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