>>This was about the correcting factor - that the dividends being computed into the value of stock somehow offsetting inflation - that's actually only partial. We can say that that the gain makes your inflationary loss smaller, or that the inflation actually makes your gain smaller.
>
>Hopefully, you accept that if investment gain is higher than inflation then it is a gain.

Of course - just not as high as advertised.

>Also, my point was slightly different. If one tries to make a gain and, actually, makes some then his 'inflation-adjustable loss' (in case nominal gain still lower than nominal inflation rate) is still much better than for someone who did nothing.

That too. I'm just not overwhelmed, not even partially whelmed, when they cheer at DJ reaching 14000 - it should have been at least 17000 by now to keep up with inflation.