The lesson was, the longer your time frame and the more patient you are, equities win. That`s been a lesson taught to generations. Based on this data, equities has become the foundation of any portfolio for anyone building a long-term investment plan.
While I would not necessarily disagree with equities being a major portion of a long-term portfolio, I would content that Shiller`s analysis is at best, exaggerated because of survivorship bias, and at worst, deceptive. It is reminiscent of glossy brochures and offering memorandums promising great things, but leaving out key details.
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