While the best stock in the S&P 1500 has a year-to-date gain of more than 450%, Professor of Finance Hank Bessembinder's research shows why a diversified investment strategy is better than to risk everything on a few stocks.

In this story published Dec. 24, 2019, on MarketWatch:

The results help to explain why poorly diversified active strategies most often underperform market averages.

– Hank Bessembinder, who is the Francis J. and Mary B. Labriola Endowed Chair in Competitive Business