I am always surprised that people are still trading the domestic equities market. Whilst, many such as fund managers can be forgiven for being trapped both within the fallacy of their own narrative and their inherent laziness, there are people who should know better. Below I have generated some relative comparisons between our market and a handful of foreign markets. The longer term comparisons are simply for a giggle, what interests me are the comparisons since the GFC. If the bulk of your equity investing since the GFC has not been in US equities then you have been wasting your time. It doesn’t matter how good a stock picker you are – if the momentum and interest are not there, then there is nothing you can do about it.