In the late 1990s, most investors expected future returns of 15-20% per year based on prior 15-20 year performance, but instead experienced losses for the better part of the next 13-14 years, demonstrating how recent experience dictates expectations and causes investors to extrapolate favorable conditions forward.
factualpending
Speaker
Chris MeredithEvidence Quote
“In the late '90s, most investors had an expectation they'd make uh historically past 15 years 20% a year. Well, no, you had you had losses for the better part of the next 13, 14 years”
Source
We Asked Chris Bloomstran Why He Won’t Own the S&P 500 At These Levels — And What He Does Instead— Excess ReturnsCreated: 8/12/2026, 6:13:17 PM
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