Most Stocks Underperform T-Bills Over Their Lifetime Holding Period: Study

Over a lifetime Holding Period – do T-bills actually beat stocks? According to the Credit Suisse Global Investment Yearbook, over the long term US equities have produced a real return of 6.4% per annum since 1900 (to year end 2016). These returns have eclipsed those of the risk-free assets, Treasury Bonds, and Bills, which achieved a real return of 2.0% and 0.8% respectively over the same period. $1 invested in US equities in 1900 would have grown to $1,402 by year-end 2016, while the same amount invested in bills would be worth only $2.6 [schloss] However, while these figures show…