Inflation adjusted were the key words. Even your link admits poor performance during periods of high inflation, and gives several other example periods. But h

Inflation adjusted were the key words. Even your link admits poor performance during periods of high inflation, and gives several other example periods. But here was my original source: http://www.multpl.com/inflation-adjusted-s-p-500 http://www.multpl.com/inflation-adjusted-s-p-500 With your link, if you're just talking about value of the stocks and controlling for inflation, one dollar of stocks in 1969 grows to only $1.03 in December 1991.