Investors’ behavior penalizes growth
The U.S. stock market enjoyed a major bull run in the second half of the 1990s, with the S&P 500 Index climbing an average of almost 29 percent per year between 1995 and 1999. However, it appears that the average investor did not reap much of that reward, says John Bogle, former chairman of the Vanguard Group, a major mutual fund company. […]