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<p>[QUOTE=&quot;GoldFinger1969, post: 2109622, member: 73489&quot;]<b><span style="color: #00b359">No, 7% AFTER-INFLATION is the correct long-run return as documented over many time-series.&nbsp; </span></b>8% is probably the actual figure, though corporate profits have also grown at 7% after-inflation since 1960.</p><p><br /></p><p>Trading fees are irrelevant, poor market-timing would be a bigger problem (the difference between time-weighted and asset-weighted returns).</p><p><br /></p><p><br /></p><p>Which article, what bias ?</p><p><br /></p><p><b><span style="color: #0000ff">Let me end the debate here:</span></b>&nbsp; <b><u>the best long-run returns are from stocks.&nbsp; Bonds are counter-cyclical and a diversified portfolio will return about 3% after-inflation (mostly thanks to the last 30 years of returns).&nbsp; T-Bills are 1% after inflation, and gold is somewhere between bills and bonds, depending on when you measure from.</u></b></p><p><b><u><br /></u></b></p><p><b><span style="color: #ff0000">This chart is irrefutable, going back to 1871.&nbsp; Rolling periods eliminates any timing bias.</span></b>[/QUOTE]</p><p><br /></p>

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