If you look over a longer timeframe than just 5 years it gets closer. 😉

But I agree that good companies produce real returns but the index average not really over decades.

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arguably it would be more favorable to your case just looking at the past 5 years as the money supply has greatly increased.

since 1960 M2 is 6.88%. nominal stocks are around 10-11%. so a real return has been made to the stock investor