Most of the investing by my gang consists of contributions to our RSPs and for a large part that began in the eighties when we finally had some money and woke up to the fact that we weren't going to be able to work forever.
In the ten years, ending July 8, 1990, the TSX rose from 2,116 to 3,596 or 69.94%. We fell in love with finance guy and his wonderful mutual fund products.
In the next ten years, ending July 8, 2000, the TSX shot to 10,380 for a ten year increase of 288.65%. We declared finance guy to be an absolute genius and bragged to each other that our guy was the best!
In the ten years ending yesterday the TSX rose to 11,433 or 10.14%. Yup, 10% for ten whole years!
A GIC invested at 5% for the same period would have returned 62.88%
What do we think of finance guy now?
Friday, July 9, 2010
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