Triumph of the Optimists

This book provides an authoritative account of a century of investment returns in sixteen countries, including the U.S.

, U.K. , Japan, France, Germany, and others.

The authors present a clear and consistent analysis of total returns, including reinvested income, and address issues such as survivorship bias and the long-term equity risk premium.

The book is essential reading for investment professionals, financial economists, and investors, offering insights into the broader tendencies of equity markets over the long term.