Returns

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Forward-looking Returns Are Closely Correlated to Starting Valuations

Forward-looking Returns Are Closely Correlated to Starting Valuations.PNG

The Highest Return Potential Is Outside U.S. Stocks and Bonds

The Highest Return Potential Is Outside U.S. Stocks and Bonds.PNG

Forward P/E & Price/Book Value (Jun 2006- Jun 2018)

Forward PE PB Value.PNG

Berkshire Hathaway Performance

Berkshire Hathaway Performance.PNG

International Equities vs. US Equities

International Equities vs. US Equities.PNG

S&P 500 Price to Earnings from 1927 to 2017

S&P 500 Price to Earnings from 1927 to 2017.PNG

Cross-asset Yields Across Fixed Income Exposures

Cross-asset Yields Across Fixed Income Exposures.PNG

Fixed Income Securities Market Line, 2012 vs. 2018

Fixed Income Securities Market Line, 2012 vs. 2018.PNG

Forward-looking Returns Are Closely Correlated to Starting Valuations

Forward-looking Returns Are Closely Correlated to Starting Valuations.PNG

The Highest Return Potential Is Outside U.S. Stocks and Bonds

The Highest Return Potential Is Outside U.S. Stocks and Bonds.PNG

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