[Lightbody]

I disagree.

If you include tricks that most working class doesn't have the ability to pull off effectively, I believe that the returns will likely continue at that rate, and so does my financial advisor. Stuff like tax harvesting, margin borrowing, offsetting dividends with margin interest, carrying forward capital losses indefinitely, etc.

The simple fact that the majority of the population can't do these things means you get some premium over "regular" investments like mutual funds, CDs, and cash.

That said, it's perfectly fine for us to disagree on this, but no need to be rude (or down vote :P) since really none of us will know who wins this debate for 30 years :)

[TDL]

It looks as though you are taking a much more sophisticated approach to investments. In which case, you are current to have higher expectations. I was more reacting to the general belief among asset managers where they assume they can average 9% by doing little work.

We actually don't disagree, as it were. As long as you are systematic in your approach, continuously question your assumptions, & constantly look for "what ifs".

I agree with your last statement as well.

Regards, TDL