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Don’t Make Me Say I Told You So 173

have performed compared to a $500,000 investment in the S&P
500 Index. The time period I’ve used is from October 9, 2009, the

date Brimmelow’s article was published, to December 31, 2019:

Growth of $500,000 RYURX vs. Growth of S&P 500 Index
October 9, 2009 to December 31, 2019
$1,800k
1,620
1,440
1,260

1,080
900
720
540
360

180
0
10-09 10-10 10-11 10-12 10-13 10-14 10-15 10-16 10-17 10-18 10-19
Rydex Inverse S&P 500 Strategy fund $107,503 ending value

S&P 500 $1,864,348 ending value
Source: Morningstar, 2020

Now let’s examine the true opportunity cost for the money

lost by following Ruff’s advice. If you invested the $1,757,000
difference (see above) and earned 5% per year over 20 years,

that $1,757,000 would be worth $4,661,000. That’s a lot of
money that would be lost by listening by to an “expert” trying to

predict the future.

Chapter 4: The Most Common Investor Mistakes