February 2022 Research Institute Credit Suisse Global Investment Returns Yearbook 2022 Summary Edition Elroy Dimson, Paul Marsh, Mike Staunton Thought leadership from Credit Suisse and the world’s foremost expertsSummary Edition Extracts from the Credit Suisse Global Investment Returns Yearbook 2022 Important information since 1900. The Yearbook has nine chapters. Chapter 1 explains its purpose and coverage. It provides historical perspective on the evolution of equity and bond markets over the last 122 years, and the accompanying industrial transformation. This report contains extracts from the full 268- page Credit Suisse Global Investment Returns Yearbook 2022, which is available in hardcopy upon request – for details, see page 43. Chapter 2 summarizes the long-run returns on stocks, bonds, bills, and inflation since 1900. Coverage of 2022 Summary Edition Chapter 3 focuses on currencies, long-run exchange rate changes, purchasing power parity and the case for hedging. This Summary Edition contains three extracts from the full Credit Suisse Global Investment Returns Yearbook 2022. The first extract explains the Yearbook’s purpose. It describes the