From economist Ed Yardeni’s newsletter this morning:

Ten years ago the S&P 500 was at 1186.75. The S&P 500 closed at 1260.00 yesterday, up just 6.2% over the entire 10-year period. In other words, investors in an index fund based on this widely followed measure of “the stock market” would have slept better keeping their money under their mattresses.

Ouch.