The authors reconstructed total return indices—including reinvested dividends—for 16 countries across four continents.
The book’s central argument is that "risk-takers who optimistically invested in equities were the group who triumphed" over the long term, despite a century of world wars, depressions, and crises. Key Findings & Global Audit Triumph of the Optimists: 101 Years of Global I...
(2002), by Elroy Dimson, Paul Marsh, and Mike Staunton, is a seminal study of financial market performance from 1900 to 2000. It is widely considered the definitive empirical basis for understanding long-term global capital markets. Core Thesis despite a century of world wars