Needles in a stock picker’s haystack

Even if you luck out and pick a stock that outperforms the market, there is no certainty of success, or even survival, in the future, according to research by Hank Bessembinder, professor of finance at the W. P. Carey School of Business.

Amazon’s 49,000 percent gain: The most super of superstocks since 1926

In working paper, “Do Stocks Outperform Treasury Bills?” by Professor of Finance Hendrik Bessembinder, he found that individual stocks are a gamble. An extremely small percentage of them have done well, and when gains and losses are added up over their lifetimes, most stocks haven’t made any money.