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Can We Be Brutally Honest About Investment Returns?

Can We Be Brutally Honest About Investment Returns?

Posted by on Jan 22, 2018 in Articles & Advice, Blog, Columns, Featured |

Posted by  on Jan. 22, 2018 in Articles & Advice, Blog, Columns, Featured |

Image Credit: Christophe Vorlet



By Jason Zweig | Jan. 19, 2018 9:47 am ET

With U.S. stocks at all-time highs, it’s more important than ever that investors be brutally realistic about future returns.

Some of the most purportedly sophisticated investors in the world, the managers of giant pension funds for state and local government employees, might not have absorbed that lesson yet. You can learn a lot from these folks — if you listen to them and then do the opposite….





To read the rest of the column: 

The Wall Street Journalhttp://on.wsj.com/2mZ1e11



For further reading:


Jason Zweig, Your Money and Your Brain

Jason Zweig, The Devil’s Financial Dictionary

Benjamin Graham, The Intelligent Investor



Aleksandar Andonov and Joshua Rauh, “The Return Expectations of Institutional Investors” (SSRN.com)

Future U.S. Equity Returns: A Best-Case Upper Limit” (PhilosophicalEconomics.com)

Public Plan Investment Return Assumptions (National Association of State Retirement Administrators)

Warren Buffett, “Mr. Buffett on the Stock Market,” Fortune, Nov. 22, 1999

John C. Bogle and Michael W. Nolan, Jr., “Occam’s Razor Redux: Establishing Reasonable Expectations for Financial Market Returns

William J. Bernstein, “What Rate of Return Can You Reasonably Expect…?” (EfficientFrontier.com)

William J. Bernstein, “What’s Expected? What’s Cheap?” (EfficientFrontier.com

A Matter of Expectations

This Simple Way Is the Best Way to Predict the Market


A (Long) Chat with Peter L. Bernstein

When the Stock Market Plunges…Will You Be Brave or Will You Cave?

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