OK, have this now, thanks Ken.
Would be interested in a copy of this paper. I’ve a vague feeling there’s something missed in it but need to have a look to see.
OK, have this now, thanks Ken.
Would be interested in a copy of this paper. I’ve a vague feeling there’s something missed in it but need to have a look to see.
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2900447
You have mail
@Tim
Dividends reinvested (scrip)?
No, not that. He’s using Treasuries as comparison. So, looking at the failure rate of stocks against a government bond that didn’t fail. What if we include the universe of govt bonds, including the failures?
I really hope he hasn’t done what the abstract suggests he has. Still, should be a fun read…
On page 2;
“The single most frequent outcome (when returns are
rounded to the nearest 5%) observed for individual common stocks over their full lifetimes is a
loss of 100%.”
I give up.