[[Start here]] → [[Sources]] → High Returns from Low Risk --- A fabulous little book titled “_[High Returns from Low Risk](https://www.amazon.co.uk/High-Returns-Low-Risk-Remarkable-ebook/dp/B01N984ORE) - a remarkable stock market paradox_”. It’s barely 140 pages long, and in spite of a dose of marketing towards the end, it’s a great addition to any stock market investor’s library. The book is written by academic turned fund manager Pim Van Vliet and his colleague Jan de Koning. Both work at the Dutch fund management group [Robeco](https://www.robeco.com/), which has become well known for its factor investing funds. Van Vliet shows that from a universe of the 1000 largest US stocks, buying the 100 lowest volatility (lowest risk) stocks and rebalancing the portfolio quarterly returned 10.2% annually versus 6.4% for the highest volatility stocks. This becomes quite a difference in portfolio size over the decades. In essence (and as I detail in the linked note), [[low risk stocks beat high risk stocks]]. ![[vliet-conservatiev-stocks.png]] Van Vliet illustrates with the analogy of the Tortoise and the Hare. The high risk Hare keeps taking a nap while the Tortoise takes the line honours. [There’s a full review of the book on Stockopedia.](https://222.stockopedia.com/content/high-returns-from-low-risk-van-vliet-a-book-review-and-recommendation-191909)