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There are 2 ways to look at it: 1) Look at total returns after the fact. Over the past 10-15 years, Microsoft has underperformed the indexes, even on a risk a
by mathattack 13y ago
There are 2 ways to look at it:
1) Look at total returns after the fact. Over the past 10-15 years, Microsoft has underperformed the indexes, even on a risk adjusted basis. (If you want to compare it to low vol stocks rather than tech, look at DFA's value fund) Generally high dividend stocks outperform low dividend stocks over the long haul, so this non-performance is even more striking.
2) You can make a judgment that in the future this will change. What's the basis of this, when most stock pickers are wrong as often as they are right?