I left out inflation (lack of time), though it would be interesting to see it included, since lower asset prices may well be correlated with low inflation (or e

I left out inflation (lack of time), though it would be interesting to see it included, since lower asset prices may well be correlated with low inflation (or even deflation, as is being talked about today) Dividends are included by assuming that all dividends are reinvested w/o taxation. More details on the blog.