你咋算的?the true CAGR of S&P 500 between 1964
and 1981 (the time period you picked up) was 2.61%. the average return for the same time period was 3.91%. if you invested 1 dollar in 1964 on S&P 500 index fund, by the end of 1981, it was worth 1.59x. (I am pretty sure I am right. but welcome anybody to double check).