格隆汇创始人格隆：2026年要投资哪里？毫无疑问是股市

Core Insights - The core viewpoint emphasizes that based on historical nominal and real returns over the past two centuries, stocks are the most favorable investment option for 2026, outperforming other asset classes such as long-term bonds, short-term bonds, gold, and cash [1]. Group 1: Historical Returns - In terms of nominal annual returns, stocks yielded 8.4%, long-term bonds 5%, short-term bonds 4%, and gold 2.1% over the past two centuries [1]. - When adjusted for inflation, the real annual returns show stocks at 6.9%, long-term bonds at 3.6%, short-term bonds at 2.5%, gold at 0.6%, and cash at -1.4% [1]. Group 2: Investment Recommendation - The recommendation for investment in 2026 is unequivocally in the stock market, based on the comparative analysis of historical returns across various asset classes [1].