Sentences with phrase «average annual returns appear»
So market returns over a small number of years can experience enormous swings, but average annual returns appear much more stable when we examine a very long investment horizon.
Thus, much of the findings appear to be data mining and biases (arithmetric annualreturns in Ibbotson and Duff & Phelps; monthly averagereturns in Fama - French work) and to have largely declined to not being statistically significant post 1980.