Observers have claimed for 15 years that mean reversion in S&P 500 margins, returns, and earnings growth is imminent, but this has not occurred, suggesting either that mean reversion is false or that the structural conditions have genuinely changed and do not require reversion.
factualpending
Speaker
Joseph ShapiroEvidence Quote
“folks that are in the camp of mean reversion...been talking about mean reversion for the last 15 years...we would not have performed very well over the last 15 years”
Source
The Compounders Hiding in Plain Sight | Joseph Shaposhnik on Finding Decade-Long Winners— Excess ReturnsCreated: 8/11/2026, 7:25:53 AM
My Notes
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