The first 10 years of this century have been called a Lost Decade for equity investors. Indeed, between the technology stock bust of 2000 ad the financial panic of 2008, investors have endured two of the most severe bear markets on record.

The latest data from Morningstar (through Nov. 30, 2010) shows the total return of the S&P 500 at an annualized -0.02% for the last 10 years. Domestic stock funds returned 1.4% a year, on average, hardly what investors have hoped for during the uncertain period.

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