Since 1950, the S&P 500 has had an average intra-year drawdown of -13.7% but is still up +11.4% per year annualized. No Risk, no Reward.

There are 1,873 billion dollar companies in the United States.

Chinese cargo traffic to the US has yet to normalize to pre-Liberation Day levels

The largest Japanese public companies

$1 invested in S&P 500 in 1964 = $391 today. $1 investing in Berkshire in 1964 = $55,023 today.