51. Jared Dillian - Fintwit Bastards
Mutiny Investing Podcast
The Importance of Path Dependence in Retirement
I don't think it's a mathematical fallacy if the return assumptions are correct. People weren't doing this math based on like 12% returns, return assumptions. But there's periods of time in history where the market goes down or sideways. Like how do you survive something like that? So it just doesn't make any sense. It's path dependent, right? It's all the drawdowns you'll take in between. There's a lot of path dependency.
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