Thought on Investment Performance Expectations

Here is an interesting excerpt from Roger Gibson's timeless investment book Asset Allocation, Balancing Financial Risk

Great words of wisdom from Roger Gibson.

Clients must understand all types of risk and must accurately assess the relative importance of each type in their particular situations. The myth of the ideal investment must be destroyed. There are no liquid investment alternatives with stable guaranteed principal values which can provide real returns by consistently beating the combined impact of inflation and income taxes. Any misconceptions that go uncorrected will have a tendency to surface later, often to the detriment of the investment management process.

Roger C. Gibson Asset Allocation, Balancing Financial Risk Page 18.