At the start of the century's troubled teens, who would've predicted U.S. stocks would lock themselves into the longest bull market ever, setting record after record with unprecedented calm? Adjusted for risk-the price swings investors had to endure-gains in the S&P 500 index since Dec. 31,2009, are poised to be the highest of any decade since at least the 1950s.Stocks in the index have returned 252% in the past 10 years, about 1.2 times the historical average. And the 2010s were the first decade without a bear market, defined as a 20% drop from any peak. Sure, there were six 10% corrections, all hair-raising, but none were bull-killers.
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