No, the S&P500 will not keep compounding at 15% per year

Stock prices are the result of two things, earnings and multiple on those earnings

Every investor who thinks the S&P can keep compounding at 15%+ return should remember that since 2000:

1) Dividend Yield has been between 1% and 2% every year (excluding 2008)

2) Price appreciation is the result of (i) EPS growth and (ii) change in price to earnings

(i) EPS have compounded at ~6% for decades, do you really think you have a view that will make the ~entire~ market see a structural change in growth

(ii) Change in multiple: today we are at 21.5x which represents well-above 1 st. dev. which is likely to hurt

Even assuming multiples do not compress for 10 years (extremely bold assumption), this means returns will only come from dividend yield (2%) and EPS growth (6%) for a total of ~8%

If multiples go from 21.5x to 16.9x (average of last 30 years), and we keep the other 2 assumptions the same, guess what will the S&P return over the next 10 years......~0%

Just be aware that investing all your money in the S&P500 will not keep working like it has for the last 10 years