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Medicare and Social Security
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wracket
wracket
1425 posts

Re: Medicare and Social Security

Martian wrote:
No, statistical fact, Wracket. It's how a lot of every-day people become millionaires by retirement. Ever looked at a chart before?

Also. . .what's this vain attempt to equate me to some sort of elitist, or wealthy person?


My dear boy, all I do all day long is look such charts. I'm paid to do so as an equity portfolio manager. And let me tell you with a very large degree of certainty that I can find you many 10 year periods which fall well short of your minimum return. Without trying very hard, I can find you one where the S&P 500 averaged an annual return of roughly -10% over a ten-year period--and again, without even taking survivorship bias into account (which means that an actual investor would likely have made ever worse returns). But to stick to your own investment lifetime, Cybele, why don't you just go ahead and look at what your 10 year annual return would have been had you bought an S&P 500 index fund at any point in 1999.

And for the record, the "urban (elite) legend" was just a fairly unwitty pun, not a jibe aimed at you. Though a lot of people mistakenly equate the concept of long term upward trend of equity markets as meaning you can buy (at any point) and hold and you'll be good to go. Ask anyone who has invested in Japanese equities over the past several decades if you don't want to bother, ya know, actually looking at numbers and charts before spouting off about how people should look at a chart before they, ya know, spout off.

Apr 18, 2010, 15:07



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