We all know that beating the market consistently is incredibly difficult, even for the most successful investors. Doing this over 10+ years is even more impressive, given that underperformance rates typically rise as time horizons lengthen.

Most investors struggle due to psychology, emotional decisions, poor timing, selling winners too early, and the ongoing challenge of finding great stocks at cheap prices.

In fact, according to the 2024 SPIVA U.S. Scorecard, over the 15-year horizon ending December 2024, not a single category of active equity funds had a majority of managers outperform their benchmarks.

Since sustained outperformance is so rare, I thought it would be interesting to compile a list of 50 investors who've beaten the S&P 500 Total Return Index (SP500TR), net of fees, over extended periods (most are 10+ years).

Here's the scatterplot visual and table with source data: https://stablebread.com/investors/

Will continue to update the visual and data sources every year. Let me know if you have any suggestions!

I’ve been thinking a lot about how different investing styles perform over full market cycles, not just bull runs.

On one side, you have long-term, fundamentals-first investing: cash flows, balance sheets, competitive moats, valuation discipline. Boring, slow, and historically effective.

On the other, you have thematic or narrative-driven trades: AI, EVs, defense, energy shocks, rate cuts, inflation hedges, etc. These can move fast and generate outsized returns — but timing and exits matter far more.

My question for the group: • Do you primarily allocate based on fundamentals, themes, or a mix of both? • How do you decide when a theme is actually investable versus just noise? • Have you found that thematic exposure adds alpha over time, or does it mostly increase volatility?

They may be rivals/competitors for most people, but what Joby and Archer have done this week is only paving the way for the future of the eVTOL industry. These achievements highlight the "growing programme maturity" in a time when investor's confidence has been tried and tested due to delays and several other reasons. There maybe a number of things that both companies need to work on, but this first step sure is one in the right direction!

https://aerospaceglobalnews.com/news/joby-archer-evtol-milestones-progress/

This is more than five times higher than Amazon!

Archer has the cash & partnerships to scale.. $1.7B cash, global deals, defense patents but FAA certification only 15% done and adjusted EBITDA losses continue 👀

Wall Street still bullish: 8 analyst consensus = Strong Buy, $12 target

https://www.tipranks.com/news/tipranks-ai-rates-archer-aviation-achr-neutral-at-49-as-cash-grows-but-challenges-mount#google_vignette

Watching this gave me intense FOMO