I expect my return to be 18 to 25 percent in 1988, while the Standard & Poor's 500 should rise 8 to 12 percent and OTC stocks gain 15 percent as liquidity emerges.
Sentiment: NEGATIVE
If you're the CEO of a publicly traded company, you're worried about quarterly returns.
Many follow a rule of thumb - no more than 5% in one stock. But that's not the entrepreneurial road to riches.
The average investor's return is significantly lower than market indices due primarily to market timing.
Historically, we have always seen reversion to the mean. After stocks have had an unusually great 10 or 20 years, they typically turn in subpar results over the next 10 or 20, and after bad 10- to 20-year stretches, the next 10 to 20 tend to be above average.
I'm quite bullish. We're coming up on year 15 of a flat stock market. Historically that's a pretty good sign. So I'm not a hedge-fund manager but if I was I think I'd be feeling pretty good.
There's something we calculate called an alpha, and that's the stock's return that's independent, uncorrelated to the market. And the only way you really get a high alpha is for something to zig when the market zags.
One hundred percent of our earnings are reinvested in the company, and a great deal of that goes to research.
The day I was announced as CEO, I think the stock dropped another 20%.
Tech stocks are trading at a 30-year-low when compared to the multiples of industrials (companies). It's the weirdest bubble when everyone hates everything.
Every time we make an investment decision at FedEx, we ask ourselves: 'What is the return on this investment?'
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