Make Stock Returns Real Again

Think you made money in stocks over the last two years? Think again! Your gains, such as they are or might've been, never were and aren't. Need proof? No problem. Check out the top pane on the visual below from Morgan Stanley's Mike Wilson, who's happy to disabuse you of the notion that you came out like a bandit across two years of nominally stellar returns for US shares. "The gains in stocks (and other assets) have been somewhat illusory in real terms," Wilson wrote Monday. I know what y