The cool thing about about something with a consistently high return and a long-horizon (going back 100 years) - you're still getting a high return. It's about

The cool thing about about something with a consistently high return and a long-horizon (going back 100 years) - you're still getting a high return. It's about ~6% CAGR vs ~8% if you picked the absolute best vs absolute worst time around the Great Depression. If you include re-investing dividends, it's about ~8% vs ~10%. You're not getting anywhere near that with gold over any sufficiently long non-cherry picked time horizon. The even better thing about the S&P is it has relatively low volatility. You're really unlikely to put all your eggs in the S&P at the absolute worst timing. Sure, it's possible. Not likely.