Market-Capitalization Weighted Portfolios: The Global MonkeyVW Staff
Market-Capitalization Weighted Portfolios: The Global Monkey by Winton Global Investment Management
Randomly selected equally weighted portfolios have outperformed market-capitalization weighted portfolios globally and by region over the last fifteen years. These results and structural features of market-capitalization benchmarks call the supposed efficiency of these benchmarks into question.
In October 2011, David Harding published the results of our research into the efficiency, or otherwise, of market-capitalization weighted portfolios1. The core result was that randomly chosen equally weighted . . .
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