Below, I address some of the points you have made and how you make sense of Germany’s particular underperformance puzzle. Before getting to your reactions, let me reiterate the puzzle I described last ...

Save time on status decks with a reusable Excel timeline chart. Data lives in a table, so new milestones update the timeline ...

Several readers wrote to say valuations are a good guide to longer-term returns. They’re right. Here’s the same chart, but ...