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drethelin comments on How long will Alcor be around? - Less Wrong
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Since there are companies that have existed for centuries, the criteria for "least volatile" should probably be something other than S&P 500. http://en.wikipedia.org/wiki/List_of_oldest_companies#1650_to_1699 A company being German or Japanese seems to be almost mandatory. Should Alcor relocate to Berlin?
89.4% of the companies with more than 100 years of history are businesses employing fewer than 300 people.
Be careful about reading too much into that - "Large enterprises, those with 250 or greater employment, accounted for only 0.4 per cent of all enterprises." according to the ONS. You'd expect to see 89.4% small companies by chance alone, although I concede that if a company is around for 100 years you might expect it to grow into a large company by inertia alone.
With respect to your other point, you are absolutely right - I wanted to show my working here to indicate how badly wrong back-of-the-envelope calculations can go in situations like this.