Nearly 200 years ago, the American short story “Rip Van Winkle” became an instant classic. The main character, Rip, is a simpleminded soul who lives in a village by the Catskill Mountains. He is an unambitious man who is very good at avoiding two things: work and his wife. One day, while doing what he does best, he wanders into the mountains to go hunting, meets and drinks with a strangely dressed crew, and falls into a deep sleep after
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What if Rip Van Winkle Invested in the U.S. Stock Market?
Quit Monkeying Around
August 2017 In the world of investment management there is an often discussed idea that blindfolded monkeys throwing darts at pages of stock listings can select portfolios that will do just as well, if not better, than both the market and the average portfolio constructed by professional money managers. If this is true, why might it be the case? THE DART BOARD Exhibit 1 shows the components of the Russell 3000 Index (regarded as a good proxy for the US
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