MB Deuce, Don't you need two full moons, i.e., 2 folks dropping trou simultaneously, to achieve a double bottom? -g-
I don't know if full moons are good or bad. I tend to black out during them and wake up with my clothes torn to shreds, blood on my hands, and a bedroom that looks like a dog or some sort of canine has been shedding. -g-
MPT does ring true for most large equity portfolios. The larger a portfolio gets, the more it will perform like an index. And, since most managed portfolios charge fees, they can't beat the index. Sort of like if you and I run the 100 meters dash at exactly the same speed, but you start the race 10 yards behind me. But, that does not mean that nobody can beat the market. It just means that it is really tough for mega funds to beat the index when, by definition, they have pretty much become the index. Pogo said, we have seen the enemy and he is us. In this case, we have seen the market and he is us, if you manage a super sized fund.
Don't know much about Case.
MB |
