1 chart shows just how badly average investor lags — even cash

avg investor returns

When chaos strikes, the average investor heads for the hills and ends up paying the price in long-term underperformance, says one of Wall Street’s most prominent bulls.

As this chart from Richard Bernstein Advisors shows, mom and pop stink it up on a pretty steady basis and have lagged gains in every asset class, with the exceptions of Asian emerging markets and Japanese equities, over the last 20 years. The average investor has even managed to underperform cash – represented in the chart by 3-month T-bills.

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