Read a history book or three and you understand every generation has had to deal with challenging times.īut you could make the argument that the past 20+ years or so have been more challenging than you think. History is chock-full of crashes, crises and calamities in the financial markets. That’s in addition to the lost decade of the 2000s which saw the S&P 500 offer investors negative total returns from 2000-2009 while the market got cut in half not once but twice. We’ve now had two bear markets for the S&P 500 in less than three years. That’s the first time this has happened since the Great Depression. stocks amazing returns.īut the past two decades and change have been anything but easy for investors. And we did have a bull market from 2009-2021 that gave investors in U.S. Yes, the 12-15 months following the pandemic crash was one of the easiest periods ever to make money in financial assets. However, I don’t necessarily agree with his assertion that we’ve had the wind at our backs for 30-40 years. I’m just saying we’ve had a hurricane behind us for 30 or 40 years, and it’s reversing, and I wouldn’t be surprised - in fact, it’s my central forecast - the Dow won’t be much higher in ten years than it is today.ĭruckenmiller has been publicly bearish for many years now but a lost decade in the stock market has happened in the past and will probably happen again in the future. Last week legendary hedge fund manager Stanley Druckenmiller told CNBC his baseline is for U.S. Could We See Another Lost Decade in the U.S.
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