
One of the greatest advantages the individual investor can possess—and the one least available from the 24-hour financial “news” cycle—is long-term perspective. As President Harry Truman said, “The only thing new in the world is the history you do not know.”
In many important respects, the history of the last five decades is one of tremendous progress in the well-being of the world’s population, the performance of our financial markets, and the affluence of the average American household. Herewith, some selected highlights.