On 2009-03-14, Richard J Kinch wrote:
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.

Richard, I believe that S&P can be replicated and they replace
companies with an advance warning. I remember how one ocmpany whose
shares I own, was added to S&P, we had quite a bit of advance
notice.

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.

Yep, in the long run we are all dead. Period from 1966 to 2009 can
cover someone's entire career period.

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