Part 3 locations the fashionable US market report in broader historic and world context. Shifting past the 1926–2025 US proof base, it examines US shares and bonds earlier than 1925, world markets during the last 125 years, London markets, commodities, Japan, China, earlier worldwide markets, and long-run index-construction points.
The part’s goal is to point out that the USA was an unusually profitable market, not the one potential long-run final result. By widening the proof throughout international locations, centuries, and market regimes, this part of Exponential Wealth: Centuries of Inventory and Bond Returns seeks to assist readers perceive survivorship bias, success bias, market disruption, and the boundaries of extrapolating from fashionable US historical past.
