had an email from a listener called Chris, you know who you are, and the subject line of the email was,

Are you right? I beg to differ and that got my attention, I can tell you.

He was calling me out about something that I said in episode 4 of season 15 of the podcast so well roll the titles I'll tell you in a minute

so in that episode I was talking about the 40,000 foot perspective, a high level perspective on your

financial goals and on markets and things like that. And specifically on the piece that Chris called

me out on I was talking about

stock market performance and how if you look at it on a very narrow window

volatility can be truly frightening but if you sort of zoom out and look at a much wider perspective, even what

feel like big dips in markets really in the context of decades are just fairly minor blips along the way.

Now while what I said was true, I don't think I said it quite clear enough.

So let's just clear things up a little bit.

Put five minutes on the clock down here.

Say a quick thank you to my friends at 7 Investment

Management for continuing to sponsor the show and we'll crack on. So in my

comments in that podcast episode I used the foot C100 as an example. So let's

stick with that example for now and I was making the point that over the

last year or so the footy 100 had been largely flat but it had been very volatile in the meantime. So it had been up and it had

been down but it had ended the year roughly where it started.

But of course the year is a very narrow time scale so what I said was that if you look back over 20 years

even having taken account the tech market crash and the financial crisis

and all that sort of stuff the trend is generally up now actually though when you

look at the 20 year value of the for 200 actually,100 actually hasn't moved very much at all in 20 years as you can see.

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