If stocks wind up the decade having returned 8% a year since the low in March 2009, the corresponding 20-year return would equal the worst 20-year period for stocks in history, 1929 to 1949.
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In other words, the longer than 1-year holding period, the return of 100% of the initial capital to the limited partners, and the full and equal risk that managers take alongside their limited partners (plus it is common for the managers to put some of their own money into the fund) all justify carried interest treatment as a capital gain.
When gold was up by more than 20% over a five-year period, the median return from large-cap American stocks in the same era was just 2.1%.
The dispersion is somewhat larger when measuring average annual returns (annualized return, recall, is the compounded or geometric rate of return during a multiple-year time period).
The first is that the investors who missed the 30 worst days, rather than the 30 best over that 15-year period would have earned a return of almost 21% per annum, or more than two-and-a-half times the return of the buy and hold investor.
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What I do know is that for the limited data set I have, the CRB index produced a nominal compound return of 0.77%, a real return of minus 2.16%, a standard deviation that is twice that of Treasuries, had a twelve month period with a loss of 48.74% and had a 27 year period with a negative compound return.
My worst investment was a global technology fund that actually resulted in around a 400% rate of return with just around a one year holding period.
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This brings the year-to-date return to 3.50% versus 5.19% for the same period last year.
Hammers: The return on a security over a one year period can range from as high as 30% to as low as minus 20%.
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Senior executives of the telecom concern won't receive additional restricted shares tied to its relative stock performance if shareholder return is negative over a three-year period.
If the market returned 8% for the next 10 years, the 20-year return would still be less than the worst such period in history, which was 1929 to 1949.
Likewise, there was a nearly 27 year period where gold produced a negative nominal compound return and a significantly negative real return.
Over a three-year period ProLogis has outperformed peers with an annual return of 33.8%, versus 30% for AMB Property and 23.4% for First Industrial Realty Trust.
Over a three-year period ProLogis has outperformed peers with an annual return of 33.8%, versus 30% for AMB Property and 23.4% for First Industrial Realty Trust (nyse: FRPRC - news - people ).
The table includes an annualized return, annual standard deviation of the technique, best and worst calendar year return, and the high and low amount in equity over the period.
Their goal: a 20% annual return on each stock over a three- to five-year holding period.
For the Barclays 10-year Municipal Bond Index, the results were similar: total return for the period was 6.133%, with 1.346% coming from price and 4.795% from coupons.
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The Loan 100, meanwhile, continues to outperform, with a 9.29% return in the year to date, versus 1.28% during the same period last year.
And after that window, for a period of a year, the writers settled for fixed dollar amounts in return for the streaming of their work, which will limit their earnings compared with those of the studios.
Malaysia claimed that CLOB was illegal and offered to return the shares at a 52% discount and only after a three-year waiting period.
Treasuries yields rose back up to 4.7% during this period, and even though they produced a positive return in each calendar year, there were some 12-month periods during this time when their total return resulted in a loss of as much as -3.8%.
The risk and return components of the efficient frontier are computed for a specific time period, usually one year.
After that, during this five year period China also plans to send a rover to the Moon, collect samples, and then return to Earth.
Over a 9.5 year period ending this past December, the overall MSCI EAFE Index gained 63.9% in total return.
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Historic return data shows that 2 out of 3 actively managed mutual funds underperform their benchmarks over a 5 year period when adjusted for survivorship bias, and that both individuals and professionals lose more ground when they try to predict markets by changing their asset allocation.
That return to growth during the third quarter of 2012 also outstripped the performance in the same period the previous year, when the economy grew by 0.4%.
Big Blue also did just a hair worse than buying the 5.3% yield on a 10-year U.S. Treasury the week Palmisano took over, which compounded to a 59% return over the same period.
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