Michel Pireu Columnist

Reversion to the mean is one of the most common stories in history, says Morgan Housel at Collaborative Fund. It’s the main character in economies, markets, countries, companies, careers — everything, he adds.

That certainly applies to investing, where it now seems harder to sustain success over an extended period of time. So why is stock market success so fleeting?

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now