The last 150 years of US stock market outperformance was driven by specific historical factors: the Industrial Revolution, global workforce expansion from 1 billion to 5 billion, and US global dominance—conditions unlikely to repeat at the same pace.

causalpending

Speaker

Jason Buck

Evidence Quote

we went from about 1 billion people in Workforce to 5 billion people in the workforce and the US has been the most dominant country in the world for the last 150 years

Source

Why Defense Wins in Investing | Practical Lessons from Jason BuckExcess Returns
Created: 8/11/2026, 7:37:59 AM

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