[Pen-l] Performance of gold, SP500, and 30-Yr T-Bond in last 5 years

[Sabri Oncu <sabri.oncu@xxxxxxxxx>]

This is not a good graph Julio, because it is comparing oranges and
apples. S&P and Gold are fine but that 30-year bond is not, because
while the S&P and Gold performances in that graph are measured in
units of return, the 30-year bond performance is measured probably in
terms of the "on-the-run" 30-year bond yield, which is, by the way,
semi-annually compounding. For a more meaningful comparison, you need
to replace that 30-year bond with a long-term US Treasury ETF, if you
can find one, so that all performances are measured in returns. If you
do what I suggest, we will see that  in the same period the long-term
treasuries did quite well too. It is for sure that they did way better
than S&P but I don't have a feel for how they did relative to Gold,
although I don't think they did that miserably: their performance
should be in the range from 40% to 60% or so in that five years.

Best,
Sabri
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