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2011-08-14 — irishtimes.com
``US stock prices at current levels are almost 45 per cent below their secular peak in real terms, such that all capital gains since the spring of 1997 have been erased. Meanwhile, gold continues to frustrate its critics, as the price of the precious metal edges ever higher and is up almost fivefold in real terms since the dot.com equity bubble began to deflate more than a decade ago.''
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