Jack Bogle passed away. If his is a new name for you: when you retire, he'll have been directly responsible for about $1 of every $2 you receive from your investment returns or pension, by negotiating down by 95% fees the financial industry charged for no good reason.
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The math is simple, right: (0.98)^35 is about 0.5?
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I mean that toy model is simple but people's allocation isn't entirely US large cap equities, prices were different for e.g. actively managed bond funds, there's some dispute over whether 8% is a reasonable approximation for market returns, etc etc. Model is "wrong but useful."
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Capitalism is a bizarre label, not anything I can identify. So I have no idea what you meant here.
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value growth through markets
End of conversation
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