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Histograms of S&P 500 Index Total Returns Minus CPI Inflation

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20-Quarter Correlation Between S&P 500 and Ibbotson Associates Long-Term Treasury Index

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Changing Impact of Loss-Makers in the Post Crisis Era

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Over the Last Two Decades Earners Have Dramatically Outperformed Non-Earners

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High Debt Companies in the Russell 2000 Have Outperformed

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Evolution of S&P 500 Prices since 1828

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High Quality (ROIC) Small Cap Companies Have Outperformed Over the Long-Term

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Highest Quality Companies Trade at a Discount to the Lowest Quality

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Non-Earning Companies Have Had Positive Returns for the Last Three Years

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Volatility in Junk Bond Index (2010-2015)

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