10-08-2013, 04:01 PM
This jibes with a thought that lurks in the back of my head all the time. While I am generally bullish on both the economy and the market, I think there are a lot of structural reasons that it is unreasonable to expect returns going forward to match historical averages of the past 20, 50, or 100 years. I am delighted to have companies sharing a larger portion of profits with me as a partial owner, but as I'm planning to hold for decades, I'd also like management to be planning well for future profitability and growth.