A Bear Market Lesson About Bullish Projections
The 10-year period of January 1999 through December 2008 has been called the “lost decade” of investing, since most stock indices are negative for the period. Should pension plans and other investors scale back their assumptions about future stock market returns? Surprisingly, the answer may be “no.”
In the present climate, investors can easily fall into the trap of assuming historical returns are just...
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