In thinking more about the Costco discussion earlier this week, I wonder if anyone can tell me the average length of time non-institutional investors hold individual stock? This data must be known. I'd be curious to see how behavior has changed over the years.
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August 06, 2005
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Michael:
The data is questionable at best but our strategist's say the average retail holding period for a stock is around 170 days meaning the ownership of a particular company can change as much as 2 1/2 times per year. Since the 'market action' has seemed to quiet down this time should lenghten out and probably has. What catches my eye is when I am reading about a portfolio manager who says that they focus on the long term potential of the companies they own, yet the portfolio turns over 100% a year. Those two comments just don't add up.
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PK
Posted by: PK | August 06, 2005 at 08:39 AM
Tim: 170 days -- very interesting! Your assignment for Monday: dig up this figure for every year going back to 1900. :) And I agree with you about portfolio managers -- that doesn't at all add up.
PK: Sorry, I'm not really tapped into that scene.
Posted by: Michael Morrissey | August 06, 2005 at 10:06 AM