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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75793  
Subject: Mr. Buffett and the Stock Market Date: 11/8/1999 7:48 PM
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Good article on Warren Buffett's view of the stock market in Fortune's Nov. 22, 1999 issue. It's available online at:

http://www.pathfinder.com/fortune/1999/11/22/buf.html

Two comments from Buffett that really stood out.

(1) He expects only a 4% real return (6% if you don't adjust for inflation) for the stock market over the next 17 years. The last 17 years (1982-1999) have seen something like 17%-18% per year on average.

(2) The Fortune 500 earned about $334 Billion in 1998 and Buffett estimates that investment costs (fees, commissions, bid-asked spreads, wrap account fees, etc.) total about $130 billion per year. Investors, as a group, are giving away more than one third of their investment returns to their "advisors."

intercst
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