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- ⚠️CHART OF THE WEEK: History suggests the US stock market might be facing dismal future returns
⚠️CHART OF THE WEEK: History suggests the US stock market might be facing dismal future returns
A decade without gains - can you imagine?
Global Markets Investor
October 11, 2025
In partnership with
🔥🔥 GLOBAL MARKETS INVESTOR PORTFOLIO — UP 53% SINCE JANUARY 2024 DURING THE MARCH-APRIL 2025 MARKET TURMOIL, MAJOR US INDEXES FELL NEARLY 20%, WHILE THE GMI PORTFOLIO GAINED OVER 5%, FIND OUT HOW BELOW:
The S&P 500 Shiller P/E ratio (CAPE) hit 41×, the highest since the 2000 Dot-Com Bubble.
In the past, a ratio above 30 was followed by negative 10-year annualized returns.
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This means means that an investment has lost value on average each year over a 10-year period.
To put things into perspective, during the Dot-Com bubble, foreign stocks were also extremely expensive. This time, however, they are twice as cheap as the US — although their CAPE ratio is the highest since the Great Financial Crisis.
This suggests that foreign stocks may outperform the US in the years to come based purely on valuations.
So far this year, the US has lagged by 9 percentage points, one of the widest margins in 3 decades.
Putting all eggs in the US basket does not seem like a wise strategy.
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