6.24.2009

CDs for the long run

Mish points out that "stocks for the long run" doesn't really work -- CDs have beaten stocks over very long periods.

I'd add that gold has beaten stocks by about 3-to-1 since 1972 when Nixon abandoned the gold standard for a toilet paper currency. Check my facts on this, but I believe gold was around $32 then, and the S&P 500 was around 100. Both are around 900 today.

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