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This chapter is from the book

Alarm Bells

Between 1987 and 1994, the U.S. stock market grew a whopping 133% while the bond market grew 92.4% in value. That meant that a portfolio of 60% stocks and 40% bonds like ours should have grown 117% over that same seven-year period. But to my shock, my family’s portfolio had not. In fact, my research showed that during the roaring bull market from the late 1980s into the mid-1990s, the value of our main portfolio grew only 31%. Taking inflation into account, this meant we hadn’t really increased the value of our wealth at all.

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