All panels
Other Charts — Historical Charts and Data
Every Other Charts chart, valuation metric, drawdown record, and constituent breakdown from History of Market. 13 panels, refreshed daily.
§ I
Top 10 Portfolio Decay
COUNTERPOINT · 1950—NOW — Top 10 Market Capitalization Share of Total U.S. Equity (1950–Present)
Structural underperformance and decay exhibited by static buy-and-hold portfolios of decade-leading titans versus broad indexes.
Performance of Top 3 Champions
COUNTERPOINT · THE #1 STOCK — The Performance Drag of Owning #1: A Historical Reversal
Long-term compound returns of investing exclusively in the top three largest stocks: dispelling mega-cap outperformance myths.
Mega-Cap vs Small-Cap Cycles
IWB vs IWM · 2000—NOW — Twenty-Six Years of Large-Cap Dominance: Russell 1000 vs. Russell 2000
Twenty-six-year structural outperformance cycle of mega-cap leaders relative to small-cap equity benchmarks.
§ II
Drawdown Historical Base Rates
COUNTERPOINT · 1985—NOW — Drawdown Base Rates and Recovery Probabilities (1985–Present)
Morgan Stanley Counterpoint Research: historical base rates and frequency of 10%, 20%, and 30% drawdowns in US equities.
Forward Returns Post-Drawdown
COUNTERPOINT · FORWARD TSR — Post-Trough Forward Returns: Intermediate Rebound vs. Full Recovery
Historical forward 1-year, 3-year, and 5-year annualized return distributions following major market declines.
Market Timing & Exit Costs
COUNTERPOINT · PEAKS & TROUGHS — Temporal Clustering: Dispersed Cycle Peaks and Concentrated Troughs
Empirical quantification of capital erosion incurred by attempting to time market troughs versus disciplined rebalancing.
Drawdown Anatomy & Morphologies
COUNTERPOINT · 60 MONTHS — Sixty Months Off the Bottom: Post-Drawdown Recovery Trajectories
Characteristic trajectories of market selloffs, structural liquidity shocks, false bounces, and ultimate cyclical troughs.
Historical Drawdown Deep Dives
NVDA vs INTC · CASE STUDY — Two Divergent Paths from the Same Crash: Nvidia and Intel
Structural autopsies of defining market crises: the Great Crash, stagflation, the tech bubble, and the Global Financial Crisis.
§ III
Issuance, Dilution & Buybacks
COUNTERPOINT · 2000—2023 — Total U.S. Equity Issuance and Retirement: The Net Capital Return Era
Impact of stock-based compensation (SBC), net share issuance, and share repurchases on per-share economic value.
Net Share Issuance Deciles
COUNTERPOINT · BY SIZE DECILE — Stock-Based Compensation as a Share of Revenue Across Size Deciles
Categorizing companies by net share issuance: persistent long-term return divergence between cannibal repurchasers and serial diluters.
Buyback & SBC Four-Quadrant Map
COUNTERPOINT · SBC × BUYBACKS — The SBC × Buyback Matrix: Return Dynamics Across Capital Discipline Quadrants
Segmenting corporations by true share count reduction versus artificial buybacks masking executive equity dilution.
§ IV
Extreme Skewness of Stock Returns
BESSEMBINDER 2026 · 1926—2025 — Lifetime Stock Returns: Positive Arithmetic Mean vs. Negative Median
The majority of individual US equities failed to outperform one-month Treasury bills over their lifetimes: highlighting extreme positive skewness.
Decade Wealth Contribution
BESSEMBINDER 2026 · 1926—2025 — Decade Buy-and-Hold Returns: The Secular Decline in Median Outcomes
Concentration of net wealth creation driven by the single largest wealth-generating corporate champions in each decade since 1926.