Subject: Re: OT: regress to the mean
The US, Sweden and Switzerland had the best performing stock markets 1900-2000.
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As an unrelated aside, I once read a fairly serious paper which attempted to explain historical excess equity returns (the "equity premium puzzle") very simply: most analysis is done on the US market, but that doesn't take into account survivorship bias of stock markets themselves.

Another paraphrase: avoid investing in war zones.

DB2