FYI: Just before the market peaked prior to the tech bubble bursting in 2000 Gallup surveyed a group of individual investors to ask for their expected annual stock market returns. On average, these individuals expected the market to return 13.3% over the following year (not even close), but they also expected their own portfolio to earn 15.5%. The same survey was conducted in 2002 — towards the end of the bear market — and investors expected the market to deliver an 8.9% return over the next year. Again, these investors assumed their own portfolios would do even better then average as they expected to see 9.7% gains in their own stock holdings.
Regards,
Ted
http://awealthofcommonsense.com/2016/07/institutional-investors-are-vacationing-at-lake-wobegon/
