Your hear the reassuring echos all of the time. "Don't worry! The market will always come back." But do they? What about dividend reinvesting and adjusted for inflation? Given the data, one can easily
Consider these two overlays — one with the nominal price, excluding dividends, and the other with the price adjusted for inflation based on the Consumer Price Index for Urban Consumers (which I usually just refer to as the CPI). The charts below have been updated through today's close.