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S&P 500 Breaks Inflation Adjusted All-Time High

It’s official – the S&P 500, adjusted for inflation, has taken out an all-time high as of the end of June, on a total return basis.

My friend Jim O’Shaugnessy of O’Shaughnessy Asset Management shot me the below chart this afternoon after I posted the one for the Dow.

Click to Embiggen!
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Now what?

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