Fat Tails in Stock Returns

Ever wondered:

1. What percentage of stocks beat their benchmark index over their lifetime?

2. What percentage of stocks have a negative return over their lifetime?

3. What percentage of stocks lose essentially all of their value?

The answers are in the great white paper "The Capitalism Distribution" by the guys at Blackstar Funds.

Answers:
1. 36%
2. 39%
3. 18%
(via Mebane Faber at Realmoney.com)