On: Nevada’s public employee pension fund invests pass...

[lkdfjlkdfjlg]

I'm talking about the index.

No, you haven't.

Because if you did, you woulnd't be looking at an exponential and saying "but but but it reverts!!!!"

[refurb → lkdfjlkdfjlg]

Please give me an example of a company that has consistently produced annual return higher than the SP500 average over 50+ years (hell, 20+ years).

The answer is there are none. Company tend to have stretches of very high returns, followed by flat or decreasing periods.

So what most people do - buy a stock that has already gone up a lot, are basically buying high and selling low.