Raising the odds of owning the few stocks that drive returns

March 20, 2019

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The less diversified a portfolio is, the less likely it is to hold the small percentage of stocks that account for most of the market's long-term return. An analysis detailed in a new Vanguard research paper, How to Increase the Odds of Owning the Few Stocks That Drive Returns, yields two measures that a manager must meet to outperform the market.

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