The Juggernaut Index

Do the largest value creators outperform?

Nicolas Rabener
10 min read
4 Nov 2024

SUMMARY

  • Selecting the top 10 stocks that created the most shareholder value is not a sound investment strategy
  • Neither is selecting the top 10 stocks with the largest market capitalizations
  • As expected, most of the stocks were technology companies

INTRODUCTION

The Nifty Fifty was a group of popular high-growth large-cap U.S. stocks pitched as “buy and hold forever stocks” in the 1960s. Although many of these are still trading today, some, like General Electric, have fallen from Olympus, and others, like Eastman Kodak, have entered bankruptcy.

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