The Origins Of Long-Term Capital Losses And Gains

0
The Origins Of Long-Term Capital Losses And Gains

On The Origins Of Long-term Capital Losses And Gains: A Graham & Doddsville Perspective On Risk And Investing

Steven Klerck

KU Leuven

Massif Capital’s Top Short Bets In The Real Asset Space [Exclisuve]

Screenshot 2022 08 10 18.57.51 1Since its founding by Will Thomson and Chip Russell in June 2016, the Massif Capital Real Asset Strategy has outperformed all of its real asset benchmarks. Since its inception, the long/short equity fund has returned 9% per annum net, compared to 6% for the Bloomberg Commodity Index, 3% for the 3 MSCI USA Infrastructure index Read More

Abstract

For many individual investors and families, independent of their absolute wealth, experiencing a permanent or long-term capital loss poses the highest risk. We define a long-term capital loss/gain as a real capital loss/gain over a ten-year investment horizon. Based on our long-term investment horizon, applied to a dataset spanning more than 130 years, we are able to crystallize the key to highly persistent long-term wealth protection and wealth accumulation. A picture emerges that closely aligns with the investment philosophy and the investment principles of Graham and Doddsville (Buffett, 1984)