Do stocks outperform Treasury bills?
Master thesis
Permanent lenke
http://hdl.handle.net/11250/2625322Utgivelsesdato
2019Metadata
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- Master of Science [1613]
Sammendrag
This thesis highlights the important role of positively skewed short horizon stock
returns, and the effect of compounding on the long-term return distribution. I show
that the majority of individual common stocks deliver a lifetime buy-and-hold return
less than the accumulated one-month Treasury bill rate over matched horizons, and
that they often are negative - the results help explain why poorly diversified active
strategies often will underperform market averages.
Beskrivelse
Masteroppgave(MSc) in Master of Science in Business, Finance - Handelshøyskolen BI, 2019