## Here is a current graph for the Dow Jones Industrial Average

### Start date is Jan 1900 (since that's the earliest date Excel can work with)

### CAGR lines are for all data (104 yr), 70 yr, 35 yr, and 25 yr

### Here is a zoom in on the data from 1900 to 1970.

### Note that a 3.7% CAGR seems to fit this better than the 4.99% 104-yr line did, above.

### Note that from 1935 on, the 7.00% CAGR fits it quite well

### Here is a zoom in on the data from 1970 to present.

### Note that the CAGR lines established from earlier (purple especially) do not seem to fit this data very well.

### The orange and green lines track pretty well together, but still do not fit very well.

### Note that from 1980 on, the 10.59% CAGR fits it quite well, and undercuts the bubble.

### Here is a zoom in on the data from 1940 to 1995 - close to what BMW saw.

### Note that the 6% CAGR lines seems to fit this data somewhat well.