Stock markets are volatile places at the best of times – and these are not the best of times. But fund managers battered by the rise and then fall of their equity holdings since the start of this year could take solace in a little perspective.

According to Bank of America Merrill Lynch, $1 invested in large US company stocks in 1824 would be worth $376 today. Considerably better still, if the dividends had all been reinvested, that original shiny silver dollar would now be worth $3,642,000.