Lbill wrote:But yeah, people who started investing in 1966 experienced 18 years of sideway movement and 50% crashes.... In 1966, the DOW was about 1000, and in 1982 it was still 1000...
But things worked pretty well for them... All that money they saved over 18 years, was multiplied by TEN by 1999.
Of course, the obvious difference between 1982 and now is that in 1982 stocks were reviled and most people didn't want to own them. The Shiller PE/10 got all the way down to about 7. Today, the Shiller PE/10 is still above the historical average at 20 and there still are too many people around like you who think now's the time to buy more. I'm actually doing you stockbugs a favor by talking them down. If there were more people like me, there would actually be some chance you could get rich on them, but until then I wouldn't hold my breath.
You also have to factor in two very different Fed policies in place in 1982 and today. One was trying to combat inflation and the one today is trying to avoid deflation.