Despite the sharp rise in global stock markets over the past year, many stock market commentators have been calling the 2000s "the lost decade" for investors. It's been an easy case to make. A glance at a stock market chart over the past decade shows that the Dow Jones Industrial Average began the year 2000, at about the 10,000 level, roughly where it stands today. So from that simple perspective investors as a whole have made no progress over the past 10 years. However, this simple analysis ignores the bigger picture of long-term investing, global investing, and stock market bubbles.
David A. Pace, CFA
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