> I suppose it's possible for a company to exist indefinitely, but how many companies that existed 1000 years ago exist today?
How many markets that existed 1000 years ago exist today? The point I'm making is that markets are composed of individual stocks, they can't be inherently superior in terms of ROE to the stocks that the indices track.
Comments
> No stock will outperform the market over the long term.
So all stocks are below average...Sort of a reverse Lake Wobegon effect?
> I suppose it's possible for a company to exist indefinitely, but how many companies that existed 1000 years ago exist today?
How many markets that existed 1000 years ago exist today? The point I'm making is that markets are composed of individual stocks, they can't be inherently superior in terms of ROE to the stocks that the indices track.
I suppose it's possible for a company to exist indefinitely, but how many companies that existed 1000 years ago exist today?
Eleven!
https://secure.wikimedia.org/wikipedia/en/wiki/List_of_oldes...