Don't Fear Market Heights: Data Shows Big Gains in Stocks Are Historically Normal

• Statistically, stocks rise far more often than they fall - gaining in 73% of 12-month periods since 1925

• Extreme returns, especially on the upside, are more common than typically believed

• The S&P 500 has seen 37 calendar years with over 20% gains since 1925, more than losses of any magnitude

• Big returns in bull markets (over 20%) are historically normal, with bull markets annualizing 23% sans bear markets

• Investors shouldn't fear market "heights" - 20%+ gains aren't abnormal, so acrophobia shouldn't apply to investing