What 125 years of data says about diversification and investing at record highs

March 4, 2025

Last Updated: March 4, 2025 at 7:11 a.m. ET
First Published: March 4, 2025 at 6:34 a.m. ET

A look back at 125 years of investment return history shows that stock-market investing works over the long run, but can be very volatile. Photo: Getty Images

Making its way around social media was the clip from “Ferris Bueller’s Day Off” in which the economist Ben Stein explained the Smoot-Hawley Act, when Republicans raised tariffs in a bid to increase revenue and ended up exacerbating the Great Depression. Wonder if there’s any current relevance.

So it’s probably a good day to travel down memory lane, with the release on Tuesday of UBS’s global investment returns yearbook, which now has 125 years of data to mine.

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Steve Goldstein

Intraday Data provided by FACTSET and subject to terms of use. Historical and current end-of-day data provided by FACTSET. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.

 

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