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Closed-End Fund Commentaries


Some Perspective On The Performance Of The S&P 500 Index

Feb 21, 2017
Click here to access Some Perspective On The Performance Of The S&P 500 Index

View from the Observation Deck

1. Are U.S.stocks overvalued? While there are many metrics that can be used to argue one side or the other, we believe there is room for an eyeball test using historical returns.
2. The last bar in the chart (shaded gold) represents the average annual total return for the S&P 500 Index since 1926. Since it covers such a long period, it tends to change modestly with each passing year.




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