Commentary 
The one investing lesson that every investor must learn in surviving the long game is how math works. I recently received an email from a reader suggesting that the 2021 decline in the market is “no big deal” because of the stellar returns over the last decade. He quoted a snippet of an article by Ben Carlson.
“To be fair, these losses need to be put into perspective. The gains leading up to this slaughter were gigantic. These are the annual returns for the Nasdaq since the Great Financial Crisis ended:” 2009: +45.3 percent
2010: +18.0 percent
2011: -0.8 percent
2012: +17.9 percent
2013: +40.9 percent
2014: +14.7 percent
2015: +7.0 percent
2016: +8.9 percent
2017: +29.6 percent
2018: -2.8 percent
2019: +36.7 percent
2020: +44.9 percent
2021: +22.2 percent For those of you scoring at home, that’s returns of more than 20 percent per year for 13 years!
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