The best-performing firms had a 51 percent probability of remaining among the best-performing firms, and the worst-performing firms had a 56 percent probability of remaining the poorest performers. 3. Great businesses tend to remain great, or they become good businesses (combined probability of 79 percent). There was only a 9 percent chance that a great business would end up in the quartile of poorest performers. 4. Poor businesses tend to remain poor, or they become slightly better but still remain below average (combined probability of 83 percent). There was only a 6 percent chance that the
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