Average is not normal
THE
LAST
80
YEARS
THE STOCK MARKET
AVERAGED
10 percent
Average is not normal
during those
80
years
ANNUAL RETURNS
LOOKED LIKE THIS
34
38
-13 -28 -43
-8
56
5
44
33
34
28
3
-7
-10
16
29
21
38
-6
4
2
20
30
20
14
1
50
25
8
-10
45
13
1
27
-10
21
16
14
-9
28
14
-10
1
16
17
-18 -28
38
27
-3
8
24
33
-3
21
23
5
32
17
2
18
29
-6
35
10
11
0
37
21
31
24
24
-11 -11 -21
32
12
6
15
HOW MANY OF THOSE
RETURNS
WERE BETWEEN
9
AND
11 percent
OR EVEN CLOSE TO:
average
34
38
-13 -28 -43
-8
56
5
44
33
34
28
3
-7
-10
16
29
21
38
-6
4
2
20
30
20
14
1
50
25
8
-10
45
13
1
27
-10
21
16
14
-9
28
14
-10
1
16
17
-18 -28
38
27
-3
8
24
33
-3
21
23
5
32
17
2
18
29
-6
35
10 11
0
37
21
31
24
24
-11 -11 -21
12
6
15
32
2
OUT OF
80
Average is not normal
SO YOU MAY BE
PLANNING ON
IN
REALITY YOU WILL
EXPERIENCE
DOES IT
?
MATTER
what if
you started
HERE
VS.
HERE
THEN
it would have mattered to
YOU
Average is not normal
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