My only caveat is the time period. Its one that encompasses the greatest bull market in history.
I would be more interested in seeing this across multiple secular markets — say, 1946 to 2003; even 1966-1982 or 2000 might be instructive.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.