For a while, I have lost track of my favorite column at Financial Times, “Short View”.  Now I got it back working again in my RSS reader.  Here is an interesting piece on the growth-return fallacy in investing.

Growth does not equal return. It all depends on your entry point or purchase price. Previously, I have introduced this simple idea in an interview with Jeremy Grantham. In practice, more often than not, you will find people rarely get it.

(click on the graph to play)