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"We've had positive years for equality.
The bite taken out by taxes, for example, depends on the specific combination of positive years and losing ones, as well as the order in which they occur.
Election years were up 296percentt, with gaining years outnumbering losers 29 to 13. Midterm election years were up 177percentt over all, with positive years ahead of negative, 25 to 17. Robert D. Hershey Jr.
Since the fund's inception in 1974, it has outperformed the S.& P. in its 28 positive years, 23.3 percent to 19.9 percent, and in the index's seven down years, negative 2.9 percent versus negative 13.7 percent.
The numbers for second-term Presidents (11 cases since 1900) are also blessed, with 64% positive years (see chart) and those years averaging a 24% gain.
The closest sequence in the recent past was the two positive years between the 1973-74 bear market and the 7% downturn in 1977.
Similar(48)
The euro has not had a positive year since its debut in 1999.
At 95 cents, that would be a 6.6percentt jump, a positive year for this beleaguered currency.
At the end of 2001, Mr. Weiss and many other professional investors were expecting that 2002 would be a positive year.
Mr. Abert's references to a "positive year like 2007" would be more accurately translated as "bubble year".
If a negative year is followed by a positive year, managers do not receive compensation until the fund has recouped the losses from the bad year.
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