When it comes to investing in public equities, it’s easy to get deterred by headlines in the media, but it’s vital to remember that stocks are not the economy. Opportunities still abound in public markets. History and Hendrik Bessembinder have shown that successful investing comes down to finding the few winners and cutting the losers quickly. The stock market is driven by a few successful companies, while many underperform. Returns are skewed, with a small percentage of firms generating most gains. Digitalisation has accelerated the rise of these winners. Both public and...