Research | Tim Alcorn | Lessons from Bessembinder

What can a US academic's research teach Baillie Gifford about the handful of companies behind nearly all net gains on global stock markets?

Tim Alcorn, Head of Investment Risk, looks at what we've learned

Lesson one

Focus on growth

Investing in research and development while still achieving superior growth in returns, scale and profitability is a key

characteristic of winning companies. Firms succeed or fail for myriad reasons, but this appears to be a must-have.

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Lesson one

Lesson two

Lesson three

Thanks to Hank