100 years versus 100 days

The noise surrounding the first 100 days of the Trump 2.0 presidency is loud, emotional, and often unsettling for investors. However, once we take a bird’s-eye view of the U.S. stock market over the past 100 years, a very different perspective emerges. Equity markets have navigated wars, recessions, political crises, and social upheavals—and yet, the long-term trend remains overwhelmingly positive.

If we treat equities as a long-term investment, the historical evidence is clear: temporary volatility pales in comparison to the consistent creation of real wealth. Over the past century, stocks have delivered returns far exceeding inflation, despite countless periods of uncertainty and fear. Rather than reacting impulsively to political headlines, the more rational path is to focus on the fundamentals—specifically, by investing in individual quality companies with strong, resilient business models and undervalued earning power, as we do at ECP. History shows that true wealth is built not through market timing, but through ownership of exceptional businesses acquired at attractive valuations.