[Robert Stermer]

Interesting paper, thanks for posting it. Does it indicate an edge for cap weighted indices over equally weighted or price weighted indices (DJIA)? It would seem that those firms most successful in generating wealth over time would have the highest weighting in cap weighted indices. That’s certainly not to say that there aren’t periods of outperformance for etfs like rsp over spy, but in general it would seem the cap weighted indices would do better.

[Author]

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