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This is all true. But it should be remembered that in addition to stocks, what people are willing to give you for money changes as well. This time last year, 1 USD would give you 1.08 CAD, today it buys you 1.32 CAD. On top of that, if you want a loan, the bank looks at your in-the-box stock value and your in-the-box house value when determining how good you are for it. Stocks are a very crazy box, but not even money gets you out of boxes. In fact, if the Fed had it's way, the money box would shrink to 1/2 its size every three decades.