Ghost of Igloi wrote:
Seattle and Mouth Breather,
I am not trying to convince you or anyone else of anything. Purely an academic view of markets where in the past investors had the same view as yours.
Similar delusion peak 3/31/2000 through 3/31/2019 S&P 500 Index return 3.5%, with reinvested dividends 5.5%. Far less than what you model.
Good luck with your view.
I offered no “view”. I merely pointed out the FACT that valuations have been high throughout the bull market. YOU are the one who said that is how it works.