Siempre es un lujo redireccionar los post de Quantivity, en esta ocación hay un deleite de papers para el refute de la Teoría de Portfolio.
Despite intellectual tradition, the mountain of contrary evidence is simply too overwhelming:
- Decades of counterexamples to CAPM
- Increasing cross-asset correlations worldwide, dramatically reducing diversification efficacy
- Two market bubbles, amply validating behavioral finance to those working in tech and finance
- Quantification across many marketplaces, rapidly accelerating since 2007
- Rise of “volatility” as a proposed asset class, going back to Derman in 2003