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And if you hold bonds in expansions, you'd lose an average annual 0.7 percent, also after inflation.
In expansions it did better, with an average real return of 6.8 percent, according to Vanguard's calculations.
The silver lining may be that the survival rate is about the same in expansions and recessions, says Dane Stangler, senior analyst at Kauffman.
Further, Mr. Stangler said in an interview, company survival rates going back to 1977 show a negligible difference between companies founded in expansions and recessions.
That, in turn, should encourage a strong rebound in participation among younger workers, for which the participation rate tends to rise sharply in expansions.
"In expansions, companies keep giving more work to their workers, and in recessions, there will be downsizing and fewer people working, but the workers who remain have to work longer hours to retain their jobs".
Similar(21)
No phased-in expansion.
Thus, B-in expansion in ipsilateral PLN and ILN occurs simultaneously.
A We're in expansion mode.
"We're in expansion mode, but we've been continuously in expansion mode.
Armani has been particularly aggressive in expansion in China, with growth of 39%.
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