The agony of stock picking
A historical study shows that 40% of all companies in the Russell 3000 suffer catastrophic, unrecoverable declines, highlighting the extreme difficulty of individual stock picking.
The argument
The hosts referenced a JPMorgan report titled 'The Agony and the Ecstasy of Stock Picking' to illustrate how former market darlings from 2021 (like Peloton, Teladoc, and Zoom) have fallen over 70% to 80% without recovery.
Hear it yourself
"This is that JPMorgan report that we love titled the agony and the ecstasy of stock picking. I never forgot the stat. It was seared into my brain why stock picking is so hard. Forty percent of all companies in the Russell three thousand had a catastrophic decline from which they never recovered."
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