, Columnist
Depressed Enough Yet? Try This Stock Chart, Then
If you were picking equities by throwing darts at a board, more than 90% would fail to beat cash.
Harder than you might think.
Photographer: Jordan Mansfield/Getty Images
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Last week, I published a chart described by its creator as the “most depressing chart ever” for asset managers. Andrew Lapthorne, chief quantitative strategist at Societe Generale SA, pointed out that over the last two years, barely one in five stocks globally have managed to beat the S&P 500. Here is his chart again, for those who didn’t see it: