Tuesday, September 01, 2009

Long-Term Under- and Out-Performance

As things continued this month to bounce back from the depths of the GFC I thought it was time for an update on how we're performing relative to the market:

The chart shows the average annual rate of out- or under- performance relative to the MSCI World Index of money we invested in the month given. This is the rate of return of the entire portfolio since that month relative to the market. So investment from mid-2004 to mid-2008 has underperformed the market. Investments since the the the peak of the crisis last northern Autumn have strongly outperformed the market. The 1998 to 2004 period also was one of out-performance in retrospect. We've slightly underperformed the market (-1.31%) over the entire almost 13 year period.

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