Nematrian Reference Library
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Reference | Title | Link |
Hebner, M. (2015) | Index Funds: The 12-step recovery plan for active investors: Step 9: History | here |
Introduction (opening paragraph)
"I think we can safely say that most investors don't make decisions based on the long-term history of the stock market. They generally look at the most recent 1, 3 and 5 and sometimes 10-year returns and assume that recent past performance will persist. Unfortunately, they don't understand that short-term returns are based on random news and that investment decisions based on 50 years of data have a higher probability of enhancing wealth than decisions based on five years of data." |
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