The Era of Tangibles

As you can see the average duration of paper-based investments has been 25 years in average. This cycle is followed by an era of tangibles with an average duration of 9 years. In the current situation this seems very conservative because we had a very strong bull market in the 90ies. Taking into account the current valuation of Dow Jones and the price of one troy ounce of Gold, we are still far above average. Things will not get back to normal before both figures meet - no matter on what level....(No financial advice, no investment advice)