The Rising Influence of Rising Affluence

[DewDiligence]

They [compounded dividends] were not removed from the calculation.

Compounded dividends were omitted from your calculation, which is why you posted “49% plus div” earlier in this thread when discussing PCL’s performance; in other words, you were too lazy to do the arithmetic. Including the compounded dividends, PCL has returned 66% during the past four years.

I wasn't talking about the 'average S&P 500' stock, I was comparing to the S&P average. It's silly to think any one stock is 'safer' than the average.

It’s not silly at all. In the event of a major market downturn, it’s likely that PCL will hold up considerably better than the S&P 500 in the aggregate.