Two mantras that I have run into repeatedly here and elsewhere seem to contradict each other. One says that past performance is no guarantee of future results, and the other says that investing in the stock market will bring you returns of roughly 11% annually. If the 11% figure is based on past performance, why do so many seem to treat the expected average return from stock investing as a given? I know this is probably a stupid question, but I'd like to hear some thoughts on this apparent contradiction. Thanks.-Chester (bothered by apparent contradictions since 1912) :)
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