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That percentage was calculated at a time when portfolios were earning about 8 percent. Not so anymore. Today portfolios generally earn much less, about 3.5 percent to 4 percent, and stocks are high-priced, which is linked historically to below-average future performance.

This is from the NYT article. And yes, I consider almost everything in the NYT to be some sort of porn, but that's a topic for another day. The writer is an idiot. The original research cover almost 100 years of data, which included high and low interest rates, plus the Great Depression. When he refers to "today's" earning, he referring to only a few years. I don't know where he was looking, but my portfolio is a 50/50 portfolio, and my returns over the past 5 years have been very much higher, as it hugely higher. Anyway, this is why I wanted to ask intercst about this type of financial puditry, because he knows more about the subject than anyone else around these parts. If he thinks it's financial porn, then it probably is, even though he's also a bleeding heart liberal on almost everything else.
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