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S&P 500 Drawdowns (%) since 1979

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Bonds Likely To Protect Less On the Downside

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U.S. Growth Price/Sales Since 1971

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Value's discount widened to TMT-like proportions since 1971

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Much Improved Outlook For Equities

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S&P 500: Percentage of Stocks that Outperformed the Index since 1990

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Tail Event: Private Equity Has A Massive Left Tail

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Annualized 3-Year Asset Class Returns

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Profit Margin of the S&P 500 since 1957

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It's Been A Great Run For Growth Investing

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