Josh Brown

speaker

8,054 appearances 21 recordings 2 series first heard Feb 2026 last heard 7 Aug

Josh Brown’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 21 in all, peaking in Jul 2026 with 6.

Appearances

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The Compound and Friends · How Ron Baron Became the Greatest Fund Manager of All Time · 24 Jul 2026 podcast

And if you wrote your July 2nd, your Q2 letter, we would have known that, Ron.

I'll never underestimate you again, Ron.

The S&P market cap total is, what, $70 trillion, whatever it is?

This is 2011?

2010.

Okay.

Ron, so most stocks are garbages.

Most businesses suck.

Hendrik Bessenbender has this famous study where he compares what are the lifetime returns of businesses versus the stock market, versus inflation, versus cash.

And here we go.

Just 27% of stocks kept pace with the stock market, just 27% of stocks, meaning 73% lose.

Versus T-bills, only 42% of stocks over their lifetime beat treasuries.

only 48% delivered a positive lifetime return.

So it's basically a coin flip of these companies are even going to make money for their shareholders over the time of their listing to the time they die or acquired or whatever.

And then the median stock lost 7% over its entire lifetime.

So most companies are trash and are not worth investing in.

Certainly not buying and holding.

And yet...

You guys have found a way to buy and hold stocks that have done the opposite, that have generated astounding returns.

Astounding returns.

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