Kotlikoff
Hi, you mentioned Laurence Kotlikoff recently. What do you think of his statement in Get What’s Yours on p23: over 20 years from 1991 to 2011, the average American investor actually lost money……?
Terry Says
The average American investor may have lost money in that period, but there has never been a 20-year period where the S&P 500 equivalent lost money, with dividends reinvested, even adjusted for inflation.
Remember that particular period he quoted had TWO bear markets — each losing nearly 50%!
