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+
Benchmark & Dow 30 Returns 1974-2003
|
| Year |
Dow 30 Return |
All Below Downside Return |
Top 5 Return |
Top 3 Return |
|
1974
|
-15.6%
|
-10.5%
|
-3.4%
|
-4.7%
|
|
1975
|
44.2%
|
47.0%
|
69.8%
|
84.6%
|
|
1976
|
29.4%
|
29.6%
|
27.4%
|
36.9%
|
|
1977
|
-12.6%
|
-12.4%
|
-12.2%
|
-10.5%
|
|
1978
|
2.5%
|
3.1%
|
5.4%
|
3.1%
|
|
1979
|
11.3%
|
12.3%
|
5.4%
|
8.5%
|
|
1980
|
25.3%
|
23.7%
|
30.4%
|
27.5%
|
|
1981
|
-3.3%
|
-0.8%
|
11.5%
|
16.2%
|
|
1982
|
19.5%
|
22.9%
|
25.9%
|
19.5%
|
|
1983
|
35.6%
|
26.8%
|
27.3%
|
41.0%
|
|
1984
|
-0.1%
|
3.8%
|
8.3%
|
2.9%
|
|
1985
|
32.1%
|
33.8%
|
36.8%
|
44.7%
|
|
1986
|
23.4%
|
71.9%
|
10.9%
|
22.1%
|
|
1987
|
15.8%
|
*
5.9%
|
10.6%
|
14.6%
|
|
1988
|
13.7%
|
17.1%
|
17.7%
|
18.1%
|
|
1989
|
32.0%
|
15.7%
|
20.3%
|
13.6%
|
|
1990
|
-9.1%
|
0.2%
|
-8.7%
|
0.2%
|
|
1991
|
30.4%
|
12.4%
|
26.5%
|
22.7%
|
|
1992
|
11.0%
|
-8.3%
|
-1.6%
|
1.9%
|
|
1993
|
17.9%
|
23.8%
|
20.3%
|
24.2%
|
|
1994
|
3.7%
|
12.1%
|
7.8%
|
12.1%
|
|
1995
|
36.7%
|
42.1%
|
41.4%
|
44.9%
|
|
1996
|
24.3%
|
28.2%
|
29.7%
|
30.2%
|
|
1997
|
22.3%
|
43.6%
|
19.6%
|
16.7%
|
|
1998
|
15.9%
|
5.6%
|
6.1%
|
15.7%
|
|
1999
|
18.5%
|
*
4.6%
|
20.8%
|
48.1%
|
|
2000
|
-4.5%
|
34.9%
|
36.4%
|
34.9%
|
|
2001
|
-3.1%
|
6.0%
|
10.8%
|
-9.8%
|
|
2002
|
-15.5%
|
-9.9%
|
-7.4%
|
1.1%
|
|
2003
|
26.6%
|
28.1%
|
33.0%
|
39.7%
|
|
Average Annual Return
|
14.3%
|
17.1%
|
17.6%
|
20.7%
|
|
++
CAGR
|
13.1%
|
15.6%
|
16.4%
|
19.1%
|
|
GSD
|
16
|
18
|
16
|
18
|
|
Sharpe Ratio
|
0.44
|
0.52
|
0.61
|
0.67
|
|
Cash Growth ($10,000 Initial Investment)
|
**
$396,865
|
***
$773,364
|
***
$941,728
|
***
$1,904,212
|
+ Benchmark Returns - The returns shown here are
from the new Dow Monthly Backtest but only cover the returns from the month of January.
++ Compound Annual Growth Rate - The year
over year growth rate applied to an investment or other part of a company's activities
over a multiple-year period.
* In January of 1987 and January of 1999 there were no companies
below the target price. In this year the 1-year Treasury constant maturity return was
used for the All Below Downside Return.
** Cash growth assumes intial investment of
$10,000 divided equally among the 30 Dow stocks and includes dividends.
*** Cash growth assumes initial investment of $10,000
divided equally among those companies that meet the criteria for each particular
strategy. Dividends are accounted for in the return. Cash is reinvested on each
successive January into the the "new picks". Trading costs are not accounted
for in the calculation.
COPYRIGHTED MATERIAL ©2002-2008
NO REPUBLICATION,
REPLICATION OR
DISTRIBUTION WITHOUT PERMISSION.
ALL RIGHTS RESERVED.
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