When comparing current market levels (of the Eurostoxx Index) and looking back to the last time we traded at these levels we hit these levels in 2000 and before that in 1997. However no one adjusts for inflation in these comparisons and doing so would bring the current levels to levels last seen between 1993 and 1994! Seems like the theory that investing in the stock market over the long term is profitable must now be adjusted to very long term. To come to these conclusions I looked at the EACPI Index on bloomberg which now stands at 108 and measured 75 in 1993. Eurostoxx now is 2300 vs 1450 in 1993. I'm surprised but also guess this is an oppertunity to slowly but surely get into the market for the next 15 years.