S&P 500 average real return, dividends fully reinvested
Nov 2016--Nov 2020: 13.18% per annum
Nov 2020--Nov 2024: 9.97% per annum
On a nominal basis it was a draw, that's how bad inflation was for stocks: Trump 15.33% per annum vs. Biden 15.39% per annum.
Although the Reagan Bull from July 1982--August 2000 was spectacular, yielding 18.99% nominal and 15.28% real, the actual Reagan era itself was still a huge battle with inflation
Nov 1980--Nov 1984: 10.5% nominal, 4.9% real
Nov 1984--Nov 1988: 17.06% nominal, 13.22% real.
