By Paul Price of Market Shadows

Equities Did Not Die in 2008

To many people it seemed like the end in late 2008 to early 2009.  Just like the movie Halloween’s killer, Michael Meyers, the market just wouldn’t die.

The S&P 500 averaged 17.6% per year in the period ended Nov. 30, 2013. The broad market now sits just about 1% off its all-time record. Smart investors have more than made up for their temporary setback.

Investors who couldn’t bear the pain of looking at their brokerage statements switched into bonds. Those who cowered in investment grade paper probably never regained their old 401K’s highs.

Traders who fled to gold and silver lost their smirks after gold peaked above $1,900 in 2011.  Precious metals mutual funds earned just 1.5% annually over the latest five years.

The more things change, the more they stay the same.