Over what periods, if any, did Gold beat the SP500 Price Index?

My post on gold and the need to look at the recent falls in a longterm perspective have generated some heat and light on the twitterweb. One critique is : sure if you look at the original post it is an artefact of the timing.

So, here are a series of charts of gold v the S&P 500 rebased at 5y intervals.

1985 Rebase

1985 Rebase

1990 Rebase

1990 Rebase

1995 Rebase

1995 Rebase

2000 Rebase

2000 Rebase

 

2005 Rebase

2005 Rebase

As I pointed out this shows us that a) gold has had a remarkable run over the last while and b) stocks fluctuate a lot. A more serious issue is that this is unfair on the equity market : although declining as a percentage of stocks, dividend paying equities, in the long term, really perform.
Below is a slide from my first lecture set in the Applied Corporate finance course, given in the third year in TCD. Its from James Montier

dividends matter

dividends matter

and here is some information on dividend payers worldwide. Yes, its a mess….

declining dividends

declining dividends

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