The last century was great for U.S. stocks, but the next decade might be challenging, says investing chief

It's been a strong century for the stock market. From 1926 through 2025, the weighted return on all common stocks averaged 10.1% per year, according to research from Hendrik Bessembinder, a professor at the Carey School of Business at Arizona State University. That's well ahead of the 3.3% investors could have earned in Treasurys — bonds backed by the U.S. …