Data return asset dan sektor saat era inflasi tinggi dan suku bunga tinggi di tahun 70an. Source : BofA
Higher inflation & interest rates mean real assets outperform financial assets (Chart 4); as in 1970s important to note strong nominal economic growth not a disaster for financial assets (e.g. stocks annualized decent 8% return in 1970s – Chart 5), just that high nominal returns mostly accounted for by inflation.