Don’t Play The Loser’s Game

Recently, a blog post by Chris Marx, a senior portfolio manager for equities at New York-based AllianceBernstein (AB), came to my attention. In it, Marx commented on a March 9, 2015 article in The Wall Street Journal that highlighted the reality that today’s investors should have lower expectations for future returns because valuations are now much higher than historical averages.

Currently, the majority of financial economists are forecasting real returns to the U.S. total stock market and/or the S&P 500 of about 4 percent, well below their historical real return of about 7 percent.

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