Inspired by Harper's Index (with a tip of the hat to FiveThirtyEight's Significant Digits blog), Morningstar Runs the Numbers uses a numbers-based approach to highlight recent Morningstar research, along with some outside news stories.
Christine Benz interviewed Jack Bogle, and he shared his expectation that stock market returns are going to be much lower going forward than we've seen in recent years. He thinks 4% to 5% is reasonable range, and this is how he explained how he got to that number:
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