On Sat, 14 Mar 2009 02:43:52 -0500, 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.

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.
============
And I'll bet you don't believe in Santa Claus or the Easter Bunny
either..... :-(


Unka' George [George McDuffee]
-------------------------------------------
He that will not apply new remedies,
must expect new evils:
for Time is the greatest innovator: and
if Time, of course, alter things to the worse,
and wisdom and counsel shall not alter them to the better,
what shall be the end?

Francis Bacon (1561-1626), English philosopher, essayist, statesman.
Essays, "Of Innovations" (1597-1625).