So few market winners, so much dead weight

Research by Professor of Finance Hendrik Bessembinder covered in The New York Times receives a response from Bloomberg

In a response to an article in The New York Times titled"The Best Investment Since 1926? Apple," in which Professor of Finance Hendrik Bessembinder's research illustrated how dominant Apple's stocks have been since the beginning of the 20th century; Bloomberganalyzed Bessembinder's findings and found that nearly four percent of publicly traded stocks account for the net wealth earned by investors since 1926.

In this post in Bloomberg on Sept. 26, 2017:

"A mere 30 stocks account for 30 percent of the net wealth generated by stocks in that long period, and 50 stocks account for 40 percent of the net wealth."