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Common Stock

In: Investment Strategies

Author

Listed:
  • Bill Jiang

    (Legal & General Investment Management)

Abstract

Equities represent a major asset class with the potential to deliver superior long-term returns. This chapter starts with an overview of equity investing and equity indices. It compares the historical performance of equities and other common asset classes. The results support the observation that equities are generally positioned at the higher end of the risk and return spectrum. The chapter shows that the chance of outperformance by equities against bonds and cash often increases as the investment horizon lengthens. It provides evidence that the distribution of cumulative stock returns is very skewed. This makes it rather difficult to outperform the market through stock selection.

Suggested Citation

  • Bill Jiang, 2022. "Common Stock," Springer Books, in: Investment Strategies, chapter 0, pages 29-40, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-82711-3_3
    DOI: 10.1007/978-3-030-82711-3_3
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