Carl F. writes:
>The historical rate of return on stocks in the United States is not
>synonomous with the total rate of return to all investment. An investor
>looking forward from 1898 rather than back from 1998 would see a growth
>rate much less than 10% over the last hundred years.
I recall a study of all stock markets across the world over the last
century, coming up with an average return of ~1-2%. I can't find the
cite now though.
Robin Hanson
hanson@econ.berkeley.edu http://hanson.berkeley.edu/
RWJF Health Policy Scholar, Sch. of Public Health 510-643-1884
140 Warren Hall, UC Berkeley, CA 94720-7360 FAX: 510-643-8614
Received on Thu Mar 26 20:48:45 1998
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