18min chapter

The Long View cover image

Hendrik Bessembinder: ‘Do Stocks Outperform Treasury Bills?’

The Long View

CHAPTER

Analyzing Stock Performance Against Treasury Bills

This chapter critically examines the performance of stocks in comparison to treasury bills, revealing that a significant 57% of stocks have historically underperformed. It highlights the concept of positive skewness in returns and discusses the implications of stock delistings and market capitalization on performance. The chapter also emphasizes the importance of fundamental growth indicators in predicting substantial returns from both new and established companies.

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