10 Stats from Investing in America

Meb Faber · 26 Aug 2026

Meb Faber did not write this page.

Every claim below was made in this piece, quoted word for word and numbered in the order the piece makes them, so you can read it there rather than take our word for it. The sentence above each quote is our reading of the claim, not their wording. Each quote was checked against a stored copy of the page at build time; where the two differ, the quote is the fact.

Our reading
Stock market investors spend most of their time below their previous all-time-high wealth, not at new peaks.

Their wordsStock investors spend about 80% of their time below their previous peak wealth. Only 20% of the time are you sitting at an all-time high.
Our reading
Over the last two centuries, the global stock market has never lost money in nominal terms across any 20-year period.
Mental modelPlay long games

Their wordsIn the last 225 years, the global stock market has never experienced a 20-year period where stocks lost money in nominal terms.

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