Use the return data on the sheet “Return Data” containing the realized return of the S&P 500 from 1929-2008. Starting in 1929, divide the sample into four periods of 20 years each. For each 20-year period, calculate the final amount an investor would have earned given a $1000 initial investment.

Using the data below, calculate the expected return and the volatility (standard deviation) of a portfolio consisting of Johnson &Johnson’s and Walgreen’s stocks using a wide range of portfolio weights.