SPX(average annual)/GDP(trillions of dollars), then vs. now
1938: 131
1942: 52
1964/1965: 118
1982: 35
2000: 139
2009: 65
2019: 135
2025: 202
Median 1938-2019: 81
This ratio has been above 139 for six consecutive years 2020-2025, which is unprecedented for the era shown. Even so, return places third because dividends are puny in the age of obscenely overpaid dirty rotten CEOs and management.
Return: nominal/real, average per annum, dividends fully reinvested
12/1942-12/1965: 15.43%/12.30%
12/1982-12/2000: 16.66/12.97
12/2009-12/2025: 14.09/11.23
