S&P 500 capital gains rose 3% annually from 1981 to 2026, Dave Collum notes

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S&P 500 inflation-adjusted gains since 1981

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14 min ago

S&P 500 capital gains rose 3% annually from 1981 to 2026, Dave Collum notes — S&P 500 inflation-adjusted gains since 1981

An analysis shared by Dave Collum, a professor emeritus and financial commentator, reviews 100 years of S&P 500 capital gains, adjusting for inflation based on the M2 money supply.

Collum states that over the 45 years starting in 1981, trough to peak gains in the S&P 500, after inflation adjustment, averaged 3% annualized.

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Collum has previously described Intel’s recent 25% decline as a good start after what he called a State-sponsored pump of the stock. He has also warned of a potentially devastating bear market with an unknown duration. These views add context to his long-term analysis of equity market performance.

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