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<p>[QUOTE=&quot;GoldFinger1969, post: 2111841, member: 73489&quot;]Siegel himself would say that you can quibble with his numbers. He is not saying he is Moses bringing down performance numbers in the form of the 10 Commandments. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie8" alt=":D" unselectable="on" unselectable="on" /></p><p><br /></p><p>As for gold, he is &#039;biased&#039; in the sense that aside from very small windows, gold as an investment does NOT do well.&nbsp; It doesn&#039;t produce capital gains.&nbsp; It doesn&#039;t pay dividends or interest.&nbsp; And that impeded performance since almost 40% of stocks total returns are from dividends and for bonds its almost entirely interest.</p><p><br /></p><p><br /></p><p>See the chart I attached earlier.</p><p><br /></p><p><br /></p><p>Again...forget about going back to 1871....just go back to 1926...or 1950....or 1980....or 1990.....or even the 2000&#039;s.</p><p><br /></p><p><b><i><span style="color: #0000ff">The rolling returns speak for themselves !!</span></i></b></p><p><b><i><span style="color: #0000ff"><br /></span></i></b></p><p>Yes, only small-cap stocks probably top out at a nominal return of 11%.&nbsp; But large-cap S&amp;P 500-type stocks produce 9-10% returns.</p><p><br /></p><p><br /></p><p>See the chart again...the numbers don&#039;t lie.&nbsp; See what happens to returns as the time horizon increases.</p><p><br /></p><p>Don&#039;t go back to 1871.&nbsp; Go back 10 or 20 or 30 or 40 years.</p><p><br /></p><p><br /></p><p>You&#039;re comparing apples and kumquats.&nbsp; <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie8" alt=":D" unselectable="on" unselectable="on" /></p><p><br /></p><p>Fuel efficiency is a simple calculation of how many miles you go on 1 gallon of gas.&nbsp; End of story.</p><p><br /></p><p>What you injected is a measure of &#039;transportation efficiency&#039; which is totally separate.</p><p><br /></p><p><br /></p><p>You keep going back 200 years.....<b><i><span style="color: #0000ff">did you see the chart ?&nbsp; </span></i></b>How about going back to when you or your parents were born ?</p><p><br /></p><p>Returns today may be lower for stocks and fees may or may not be higher than when Siegel started his analysis...but they don&#039;t &#039;impeach&#039; the results. They may knock it down 50-100 bp. or so....but that&#039;s about it.</p><p><br /></p><p>Stop talking about 1871 and The Wild West of Investing.<img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie8" alt=":D" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>

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