Source: pammarketingnut.com
Overview
Many great investors (like Terry Smith) have this interesting metric to calculate for their managed portfolio: the average "age" of invested companies. Although there does not seem to be a correlation between the equity return and the age, companies with a long history are at least demonstrating their capabilities of enduring through different economic cycles, industry dynamics, and competitive threats. A portfolio full of such companies should have better protection to the downside risk and thus increase its probability of outperforming for the long run, if you believe that "the