5 steps investors should never ignore when picking great businesses: Jon Erlichman
BNN Bloomberg
In the latest episode of Ticker Take on YouTube, I spoke with investor Paul Harris of Harris Douglas Asset Management about how he tries to find that small minority.
Far fewer actually do.
Long-term stock market returns have historically been driven by a surprisingly small group of companies. A landmark study by Hendrik Bessembinder at Arizona State University found that just four per cent of U.S. stocks accounted for the majority of net wealth creation between 1926 and 2016.
In other words, most stocks did not meaningfully outperform Treasury bills. A small minority created enormous value.
In the latest episode of Ticker Take on YouTube, I spoke with investor Paul Harris of Harris Douglas Asset Management about how he tries to find that small minority. His approach is built around five financial metrics he believes investors should never ignore.
They are:
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