%Real Returns on global Stock Markets.
%Source: Jorion and Goetzmann, J. Finance 1999
%
%
r=[ 01 21 12 96  4.32
    01 21 12 96  3.19
    01 25 12 96  1.62
    01 21 12 96 -0.26
    01 26 12 96  1.87
    01 31 12 96  2.07
    01 21 12 96  0.75
    01 21 12 96  1.91
    01 34 12 96  1.46
    12 28 12 96  0.15
    01 21 12 96  1.55
    01 21 12 96  2.91
    01 31 12 96 -0.58 
    01 21 12 96 -1.82 
    01 21 12 96  4.29
    01 26 12 96  3.24
    01 21 12 96  2.35
    01 21 04 45  3.79
    07 29 09 40 -5.50
    01 25 06 44  2.80
    01 21 06 39 -3.97 
    12 37 06 41 -28.06
    01 31 12 96  1.58
    01 31 12 96 -0.34
    01 21 12 96 -0.81
    12 39 12 96 -2.33
    07 60 12 96 -1.77
    07 54 12 96 -3.65
    09 47 12 96 -4.80
    02 61 12 96 -0.17
    12 34 12 96  2.30
    01 27 03 71  2.99
    12 36 12 96 -4.29
    03 41 12 96 -4.85
    03 38 11 44  2.42
    12 37 12 96 -2.04
    07 50 09 62 -2.84
    01 57 12 96  3.03
    01 47 12 96 -1.76
];
c =[  '  US            '
      '  Canada        '
      '  Austria       '
      '  Belgium       '
      '  Denmark       '
      '  Finland       '
      '  France        '
      '  Germany       '
      '  Ireland       '
      '  Italy         '
      '  Netherlands   '
      '  Norway        '
      '  Portugal      '
      '  Spain         '
      '  Sweden        '
      '  Switzerland   '
      '  UK            '
      '  Czechoslovakia'
      '  Greece        '
      '  Hungary       ' 
      '  Poland        '
      '  Romania       '
      '  Australia     '
      '  New Zealand   '
      '  Japan         '
      '  India         '
      '  Pakistan      '
      '  Philippines   '
      '  Argentina     '
      '  Brazil        '
      '  Mexico        '
      '  Chile         '
      '  Colombia      '
      '  Peru          '
      '  Uruguay       '
      '  Venezuela     '
      '  Egypt         '
      '  Israel        '
      '  South Africa  '];

i = [4,7,8,10:12,14,17:22,25,27:30,33:35,37,39];

dt= r(:,4)+r(:,3)/12-r(:,2)-(r(:,1)-1)/12;
dt(29) = dt(29)-10.5;
plot(dt,r(:,5),'square')
text(dt(i,:),r(i,5),c(i,:))
text(dt(1),r(1,5)+.3,'  US')
text(dt(2),r(2,5)+.05,'  Canada')
text(dt(3)-5,r(3,5)-.15,'  Austria')
text(dt(5)-6,r(5,5)+.3,'  Denmark')
text(dt(6)-10,r(6,5)-.1,'  Finland')
text(dt(9)-10,r(9,5)-.1,'  Ireland')
text(dt(13)-11,r(13,5)-.1,'  Portugal')
text(dt(15)-11,r(15,5),'  Sweden')
text(dt(16)-1,r(16,5)+.4,'  Switzerland')
text(dt(23)-3,r(23,5)-.3,'  Australia')
text(dt(24)-17,r(24,5)+.05,'  New Zealand')
text(dt(26),r(26,5)-.2,'  India')
text(dt(31)-3,r(31,5)+.4,'  Mexico')
text(dt(32),r(32,5)-.2,'  Chile')
text(dt(36),r(36,5)-.1,'  Venezuela')
text(dt(38),r(38,5)+.2,'  Israel')
axis([0,100,-6,6])
title('Real Returns on Global Stock Markets')
xlabel('Years since inception')
ylabel('Percent per annum')


