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What to know: Here, author Rubin Miller explores how market averages and the actual behavior of individual stocks tell different stories. While the average stock market return is positive, the most common outcome for individual stocks is a 100 percent loss, according to research by Hendrik Bessembinder. This extreme skewness in stock performance occurs because a small number of highly successful stocks, like Nvidia and Apple, drive the overall market returns upward, while most stocks underperform or fail.

Key takeaways: Trying to predict the next big market winners is nearly impossible. As such, a more likely successful investment strategy is to own a broad, diversified portfolio of stocks. Remember: Small, consistent improvements in everyday life can enhance overall well-being, while in investing, accepting the reality of the mode (the most common outcome being loss) and betting on the broader market is the most reliable way to capture long-term gains.