The current poor performance of stockmarkets reflects, of course, a reversion to the mean after the excesses seen during the dotcom bubble, when the rolling 25-year annual return of US equities reached a remarkable 16%.

ECONOMIST: Market.view: Reversion to the mean | The

His 60 gave him the clubhouse lead, the final putt rolling in as the hooter sounded to call play to a halt due to fading light, leaving his rivals to return on Sunday morning to complete third-round play.

CNN: Johnson wins playoff to retain Texas title