The Economist resurrect their fictitious perfect investor, Felicity Foresight.
$1 invested in shares in 1900 would be worth $9,000 now. However, Felicity’s $1 is not limited to shares and is now worth $2,700,000,000,000,000. So where is the best place to invest in 2003? The Economist concludes that Felicity “would be wise to recall 1931, when the best performing asset was cash, offering 1% interest.”