You are able to calculate, if you read the the attached research report (see below) from the Federal Reserve Bank of Kansas City, that over the 76 year period from: 1926 - 2002 and across all US indexed markets, the average holding period was 10.2 years. From the brief read of your article, the data they use calculates average holding period per decade - personally, I see that as negatively skewing the distribution of holding period averages when referenced against a larger time period and creating greater systemic risk in the calculation. Further, it seems the data is only related to NYSE - not including other exchanges. Then, again, perhaps more relevant data is more comparable - depending upon whether you believe historical price theories regarding co-variance replication.
https://www.kansascityfed.org/publicat/econrev/pdf/1q05shen.pdf
This is from my report, perhaps some interesting reading for any interested:
"
For investors with holding periods of ten years, historically the real returns on stocks were positive about 89 percent of the time, compared to only 68 percent for holding periods of one year (Chart 2). While on average investors had an annualized real rate of return of 6.6 percent, the average masked some very poor performing periods. Stocks did not keep up with inflation after ten years only 11 percent of the time. In the worst-case scenario, an investor could diligently add $1 every month to the broad stock market index, reinvest all the dividends in the index for ten years, and end up with only 56 cents on the dollar, adjusted for inflation.
"
Respect your input and perspective, though @myASX.
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