Volatility Lessons (Fama and French, 2018) Due to the high volatility of returns for stocks, inves

Good read - out on the net. I can't post mine legally.

 

A bit easier to find if you post the DOI:

10.2469/faj.v74.n3.6

sci-hub.tw

 

So, stocks are riskier than T-bills, but exhibit greater returns.

Still, along with those greater returns, comes an *eventual* chance at *negative* returns, should the holding period be long enough. (3-5 years and beyond.)

I guess it's more in the proof than in the saying -- they've nailed it down with data that goes through December 2016. With a 10 year bull market, it's important that people see that reliable *flow* (or even *capital*preservation*) should/may be more important than having larger returns for a year or two. F&F give us another dose of wisdom -- 53 years going. WOW.

Thanks for posting, aj and KS.