“It’s not as if half of the stocks produced an 8% return and a half produced a 10% return, and they averaged out to 9%. Instead, just 4% of stocks produced all of the market’s gain since 1926. That’s according to a 2017 research paper by Arizona State’s Hendrik Bessembinder. It’s not so much the 80-20 rule as the 96-4 rule in the stock market.” https://lnkd.in/g7rJ7zPc