Secular real return from stocks since investing at the August 2000 high compared with investing at the September 1929 high, twenty-four years out

 August 2000-August 2024 and September 1929-September 1953 both fall far short of 8.74% per annum real return September 1953-August 2000.

Real per annum return from January 1871-September 1929 was 8.34%.