Which factors drive stock returns?
— App Economy Insights (@EconomyApp) July 19, 2022
It depends on your time horizon.
Over 1 year ➡️ Sentiment.
Over 2 years ➡️ Valuation.
Over 5 years ➡️ Earnings.
Over 10 years ➡️ ROIC.
Over 20 years ➡️ People and culture.