We Study Billionaires - The Investors Podcast

On today’s episode, Clay is joined by Professor Hendrik Bessembinder to discuss his renowned research on the performance of individual stocks. Professor Bessembinder is a finance professor at Arizona State University, and his research titled, ‘Do Stocks Outperform Treasury Bills?’ has been referenced many times on the show. As a frequent speaker at conferences, financial markets, and universities around the world, Professor Bessembinder has more than 25 years of successful consulting experience, providing strategic advice and analysis for major firms, financial markets, and government agencies. IN THIS EPISODE YOU’LL LEARN: 01:58 - Why most stocks lose money in the long run. 10:26 - What level of asymmetry exists in the stock market. 12:47 - Why stocks continuously outperform treasury bills over long time periods. 15:02 - What the average drawdown for a high-performing stock is. 20:57 - The common characteristics of the biggest stock market winners. 34:28 - What it takes to be a stock picker in today’s marke