Relative Performance, page-53

Dow up 8000 pts from the pre-gfc high 10 years ago, and had 8 consecutive record breaking days in the past 8 days. Xjo DOWN 1000 pts from the pre-gfc high 10 years ago, and had moved 0.0001% in the past 8 days.

The above is just an example. ASX has under-performed the global market for the past 10 years, the past 10 month and the past 10 days. The XJO is still down 1000 pts from 2007 level, despite:

(1) Australia economy has been non-disruptively expanding for the past 10 years, when other countries have a great recession;
(2) Exports have doubled or tripled;
(3) the house price has doubled; and
(4) the wages have doubled (just ask the MPs and PMs).

Help me, why?