“Like Michelangelo’s paintings and sculptures, successful businesses are the by-product of inspiration, hard work, and no small amount of genius. And like the works of the Great Masters, only a small minority stand the test of time and last over the long run.”
Over those 45 yrs, the 20x+ winners appear to be more likely than the 8-19x combined from that chart, is that accurate? If so, do you have any summary statistics on those prior to the gains, one would expect tiny companies and extreme ROEs over long periods of time that drive most of the index's performance
Yes, I think you are correct. It has a fat tail. Unfortunately, I don’t have the data but I think these are current tech giants like Apple, Google and Microsoft.
Over those 45 yrs, the 20x+ winners appear to be more likely than the 8-19x combined from that chart, is that accurate? If so, do you have any summary statistics on those prior to the gains, one would expect tiny companies and extreme ROEs over long periods of time that drive most of the index's performance
Yes, I think you are correct. It has a fat tail. Unfortunately, I don’t have the data but I think these are current tech giants like Apple, Google and Microsoft.
Thanks for the confirmation. I don't have access to good data on this at the moment, but Monster and Celsius both come to mind for me as well.