Jim O’Shaugnessy took a closer look at what I am now dubbing the Tony Robbin’s Recent Weather portfolio. It is akin to taking an umbrella today because it rained yesterday.
Jim is a quant extraordinaire, and his analysis confirms what I wrote earlier this morning: This is a biased sample, form fitted to have done well over the past 3 decades. It is unlikely to do well over the next 3 decades.
He also posted the following table