S&P 500 gains since 1966
Ignoramus32252 writes:
S&P 500 annualized capital gain in the last 43 years, inflation
adjusted: 0.44% per year.
Actually it is far, far worse, because losers in the index are replaced
with winners after the fact. Like they took AIG out of the DJIA.
Extinction bias and winner-picking fallacies in the extreme.
And nowadays there aren't even any winners to pick.
Long-run stock market returns converge to the probability that men are
immortal and entropy is decreasing. Sooner or later every human enterprise
vanishes, and the "miracle of compound interest" cannot resurrect the dead.
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