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.

If you were picking equities by throwing darts at a board, more than 90% would fail to beat cash, according to Professor of Finance Hank Bessembinder's research.

Alumnus Aaron Myers (BS Finance ’04) attended because he is a big supporter of Arizona State University and he loves sports.

Clinical Associate Professor of Finance Geoffrey Smith and his co-author applied a rigorous test to 15 well-known market irregularities. Surprisingly, they found that five held water, bucking established economic theory.

Professor of Finance Hank Bessembinder evaluated lifetime returns to every U.S. common stock traded on the New York and American stock exchanges and the Nasdaq since 1926 to discover that only a small minority of companies provide all of the index’s excess return over cash each year.