That makes the chart pretty misleading then, because most of those are set it and forget it type investments and one has this extra cost of management that is not being accounted for.

I also doubt that they included the literal costs (brokerage fees, capital gains, etc) that would be incurred by managing a portfolio that got those returns.

You need to invest a lot of time to follow the cycle and pick the best stocks. Or you just buy the FAANG....

TomK

That's what I was thinking. There's some sort implicit stock portfolio management strategy in that figure, unless it's literally the performance of only the companies being traded 200 years ago.