US Edition🤑 Which companies generate stock market returns?
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🤑 Which companies generate stock market returns?
Hendrik Bessembinder is an economist who has conducted fascinating research on the determinants of stock market returns in the United States over the past century. His conclusions are pretty simple. Most companies (and by extension most managers) destroy value. Stock market returns are overwhelmingly concentrated, in fact 2% of public companies drove 90% of wealth creation.I was reminded of the work after venture investor retweeted it with the o…
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