Hendrik Bessimbinder has produced some of my favorite stock market research.
Bessimbinder discovered that four out of every seven stocks in the U.S. have underperformed cash (one-month T-bills) since 1926. And just 4% of companies accounted for all the wealth gains for the entire stock market in that time.
The stock market runs on power laws over the long run.
Of course, there are stocks that do well over short time fram...