Source: Global Financial Data, as of 7/24/2023. S&P 500 Total Returns Index, daily, 6/1/1932 – 1/3/2022.
120.4%
276.1%
120.7%
528.9%
120.7%
546.7%
80.6%
303.0%
201.0%
88.7%
58.4%
101.2%
114.4%
800.0%
525.6%
Cumulative Bull Market Returns
45.8%
118.2%
47.1%
181.2%
15.8%
411.8%
20.8%
217.7%
64.4%
26.0%
25.5%
47.1%
71.8%
365.2%
44.1%
Bull Return After Breakeven
45.1
33.5
Average
Median
8/10/2020
4/2/2012
10/23/2006
2/11/1991
5/17/1989
10/7/1982
7/12/1976
3/15/1971
3/23/1967
4/23/1963
7/28/1958
10/25/1949
2/17/1945
1/3/2022
2/19/2020
10/9/2007
9/1/2000
7/16/1990
8/25/1987
11/28/1980
1/11/1973
11/29/1968
2/9/1966
12/12/1961
7/15/1957
5/29/1946
Next Peak
Date of Breakeven
Bull Duration After Breakeven (M)
16.8
94.6
11.5
114.7
14.0
58.6
52.5
21.9
20.2
33.5
40.5
92.7
15.4
Cumulative returns—from bear market troughs—are even higher, averaging over 276%.
On average, markets climb an additional 45 months and return 118% following “breakeven” points.
US stocks rise far beyond “breakeven” market recovery points, dating back to 1945.
2/3
1/3
3/3