It has since climbed back to 78 percent, the fund's long-term average.
This year, the spring runoff is expected to be about half its long-term average.
Despite this, the number of days with major hurricanes was above the long-term average.
That was very near what the long-term average had been.
North American duck populations are now nearly 25 percent below the long-term average.
Since 2005 energy and metals' real prices have been well above their long-term averages.
But that is still around three and a half percentage points below stocks' long-term average.
And that's why the returns from the market may be below the long-term average of 10 percent.
The long-term average is around 1 billion, far too much, of course, to be ultimately acceptable.
In the James River, it was 10 times the long-term average.