Bitcoin is one of the best performing assets of 2019, more than doubling in price since the end of 2018. Yet from the start of 2018, prices are still down nearly 50%. However, since year-end 2016, Bitcoin is up almost 700%. But from peak prices seen at the height of the Bitcoin craze in December 2017, the price is down more than 60%.
Since the peak of the dot-com bubble in 2000, the S&P 500 has delivered annual returns of just 5.3%. Yet since March 2009, returns are more than 16% per year. Go back to November 2007 and returns are a more pedestrian 7.3% annually. Yet going back to 1995, returns are close to 10% per year, dead on the long-term averages.
Gold has been sucking wind for a number of years now, down 30% since peaking in 2011. But if you were to go back to the start of 2000, gold is up…