"yes, I only went and had a look the other day at a 20 year all ords chart -- it's really good for a remembering day occasionally as the ten year chart now looks normal - but, if you pop back a couple of years - things look quite sad"
To avoid becoming "sad" because of charts of the All Ords charts, the solution is simple: don't "invest" in the "All Ords".
Instead, buy reasonably-priced shares in durable, cash-generative, well-managed companies with dominant market positions, low-capital intensity, demonstrated pricing power, and deep and wide commercial moats, all rendering the ability to organically grow Revenues, Earnings, Cash Flows and Dividends irrespective of what the macroeconomic environment does.
The "All Ords", and other indices like it, are merely constructs of the financial services industry, but - for investors truly interested in creating wealth for themselves - they are totally meaningless and irrelevant.
I have long-observed that they are not meaningless and irrelevant for people like you who have a penchant for waving their arms in the air shouting "The sky is falling. Woe is us!"every time the "index" falls by a degree.
"gees, if they all go down - wow, what a 2019 and 2020 that's going to make"
Ooooo, Scary!
Things might go down.
Ooooo!
What is one to do about that, eh?
