The article, written in 2003, says that people are expecting too much from their equity investments and that historically, since 1900, worldwide equities have yielded about 5%. It also points out that poor 20-year returns in international investments are common.
This is interesting. Since 2003, international equities seem to have done pretty well - - but we are living in an era in which many countries are catapulting into the 21st century (some from almost the Stone Age) and experiencing considerable growth. To me, the article is interesting in that respect.
(Caveat - - One of my plans for ER is to take/audit my first college economics course, so probably others posting here will see things from a more sophisticated point of view.)