This picture shows the trend of the Dow Jones in 1929 after a wave of Coolidge's prosperity. In 1929, the Dow Jones rushed to a high of around 390 points, and then the bubble burst, the stock market plummeted, and the economy fell into a Great Depression.

We can first review the situation of the US stock market

This picture is US stock 1929, after experiencing a wave of Coolidge's prosperity , the trend of Dow Jones. In 1929, the Dow Jones rushed to a high of around 390 points, and then the bubble burst, the stock market plummeted, and the economy fell into a Great Depression. When Dow Jones Index broke through 390 points again, it was 26 years later in 1955. In the past 26 years, the stock market has also experienced ups and downs, both rising and falling. It was basically around 200 o'clock. I believe that the Americans at that time should be more desperate, such as today's A-share investors, and probably would often shout the slogan of the 200 o'clock defense battle.

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After Dow Jones hit a new high in 1955, it ushered in a 10-year bull market. After breaking through 400 points, it rose directly to 1,000 points in 1966.

1966, after the 10-year bull market ended, and the US stock market once again stagnated. This stop was 2016, in the 1970s, the oil crisis of , , the economy was stagnant, and the US stock market also fluctuated greatly. The Dow Jones Index was basically below 1,000 points, fluctuating back and forth. Americans in the 1970s must have had questions, and they would also question the US stock market. Will the Dow Jones Index always fluctuate at 800-1,000 points?

16, just when everyone was most desperate, the US stock market quietly opened it to date, the largest bull market in history, this rise has been 18 years. Of course, there are also twists and turns in the middle, but the overall trend is always upward. From the 1,000 points that everyone questioned before, it was 12,000 points at once.

Then in 2000, the Internet bubble of burst, the US stock market entered hibernation again, and the Dow Jones index hovered around 10,000 points for 12 years.

012, in the past 10 years, I believe everyone is aware of the trend of the US stock market. Another super bull market, the Dow Jones Index soared from 10,000 points to 30,000 points, and at its highest point it was close to 37,000 points. The annualized rate of return of the index exceeds 15%.

After reviewing the century-old trend of the US stock market, we finally put out the century-old trend chart of the US stock market. As you can see, before 1980, the US stock market was so turbulent that it was like a flat land in the trend chart. In other words, when you know where it will rise in the future, if you look back at the fluctuations in the middle, your mentality will not be so turbulent. It’s like if you buy a 10-year treasury bond and the country tells you that you will get a 70% return in 10 years, then you will definitely not pay attention to it, whether it will lose money or not.

is often because he is unsure of the future and does not know where it will eventually go. Of course, the fluctuations in the stock market are definitely much greater than those in bonds. During the journey, we try to reduce the range of volatility through scientific allocation plans and make ourselves feel comfortable.

At this point, someone may jump out and say, don’t always talk about the US stock market. A-shares just don’t work, they just don’t have a backbone, and they think A-shares are different, they are the ones that Telly runs alone. Indeed, the stock market environments of different countries are different, and the trend cannot be completely reproduced. But the common sense and rules behind it have never changed. What is represented by listed companies behind the index is often the representative of high-quality companies, and not every company can be listed easily. Therefore, as long as listed companies continue to make profits, expand their net assets, and continue to grow, the index will inevitably be upward in the long run.

The great investment masters in history usually have a good quality, which is to believe in common sense and not believe in the sayings of ghosts and gods. Then why do ordinary investors believe in the theory of ghosts and gods? To put it bluntly, it is because they are emotionally, short-sighted, and unwilling to delay satisfaction.